Rexel selling $500 million and €500 million senior notes Wednesday

By Paul A. Harris and Aleesia Forni

Virginia Beach, Va., March 19 - Rexel SA has scheduled investor calls ahead of planned $500 million and €500 million offerings of senior notes due June 15, 2020, according to a market source.

The company will hold investor calls at noon GMT Tuesday and 11 a.m. ET Tuesday, with pricing expected Wednesday.

J.P. Morgan Securities LLC is the global coordinator and will bill and deliver for the dollar notes, while BNP Paribas Securities Corp. is a global coordinator and will bill and deliver for the euro notes.

Credit Agricole Securities (USA) Inc., HSBC Securities (USA) Inc., ING Financial Markets LLC, Natixis Securities North America Inc. and SG Americas Securities LLC are the joint lead bookrunners.

BofA Merrill Lynch, Barclays and Credit Mutuel-CIC are joint bookrunners, while Banco do Brasil, Bayerische Landesbank and Mediobanca are co-lead managers for the Rule 144A and Regulation S for life deal.

The notes will be callable in 3¼ years at par plus 75% of the coupon.

Ratings for the issue are to be determined, and proceeds will be used to refinance the company's notes due 2016 and for general corporate purposes.

Rexel is a Paris-based producer of electrical products.

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