By Paul A. Harris and Aleesia Forni
Virginia Beach, Va., March 26 - Rexel SA priced a €150 million add-on to its 5 1/8% notes (Ba3/BB/BB) due June 15, 2020 at 101 to yield 4.955% on Tuesday, according to a market source.
The original €500 million 5 1/8% euro-denominated notes priced at 99.982 to yield 5 1/8% on March 20.
BNP Paribas Securities Corp. was the global coordinator and will bill and deliver.
Credit Agricole Securities (USA) Inc., HSBC Securities (USA) Inc., ING Financial Markets LLC, Natixis Securities North America Inc. and SG Americas Securities LLC were 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.
Paris-based Rexel is a producer of electrical products.
| Issuer: | Rexel SA
|
| Amount: | €150 million
|
| Maturity: | June 15, 2020
|
| Security description: | Add-on to 5.125% senior notes due June 15, 2020
|
| Global coordinator: | BNP Paribas Securities Corp.
|
| Joint lead bookrunners: | Credit Agricole Securities (USA) Inc., HSBC Securities (USA) Inc., ING Financial Markets LLC, Natixis Securities North America Inc., SG Americas Securities LLC
|
| Joint bookrunners: | BofA Merrill Lynch, Barclays, Credit Mutuel-CIC
|
| Co-lead managers: | Banco do Brasil, Bayerische Landesbank, Mediobanca
|
| Coupon: | 5.125%
|
| Price: | 101
|
| Yield: | 4.955%
|
| Spread: | Treasuries plus 427 bps (3.25% DBR Jan 20)
|
| Trade date: | March 26
|
| Settlement date: | April 3
|
| Expected ratings: | Moody's: Ba3
|
| Standard & Poor's: BB
|
| Fitch: BB
|
| Distribution: | Rule 144A and Regulation S
|
| Original issue: | €500 million priced at 99.982 on March 20
|
| Total issue size: | €650 million
|
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