France’s Rexel plans to sell €500 million seven-year senior notes

By Paul A. Harris

Portland, Ore., May 19 – Rexel SA began a two-day roadshow on Tuesday in London for a €500 million offering of seven-year senior notes (Ba3/BB/BB), according to an informed source.

The Regulation S offering will be marketed in a roadshow in Paris on Wednesday and is set to price thereafter.

Credit Agricole CIB, HSBC and SG CIB are the joint global coordinators and joint lead bookrunners.

BofA Merrill Lynch, CM-CIC, ING and JPMorgan are joint bookrunners.

Bayerische Landesbank and Natixis are the co-lead managers.

The notes come with three years of call protection.

The Paris-based provider of electrical services and equipment plans to use the proceeds to redeem its dollar-denominated 6 1/8% senior due December 2019 and for general corporate purposes.

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