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Rexel to price €500 million of eight-year notes
New York, Nov. 6 – Rexel plans to price €500 million of senior notes due 2025, according to an announcement from the company.
Credit Agricole Corporate and Investment Bank, HSBC Bank plc and Societe Generale are joint lead bookrunners and global coordinators. Barclays Bank plc, Credit Industriel et Commercial SA, ING Bank NV, London Branch and Natixis are also joint bookrunners.
Bayerische Landesbank and Wells Fargo Securities International Ltd. are co-managers.
The notes will be sold under Regulation S.
The new securities will be callable after three years.
Proceeds along with available cash will be used to redeem Rexel’s 3¼% senior notes due June 2022 that were issued in May 2015. The redemption is planned for Dec. 15.
Rexel said that the transactions will allow it to extend its debt maturities and lower its cost of financing.
Rexel is a Paris-based distributor of electrical equipment.
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