Rexel launches €600 million offering of seven-year senior notes

By Paul A. Harris

Portland, Ore., Feb. 26 – Paris-based Rexel SA launched a €600 million offering of seven-year senior notes (Ba3/BB-) on Tuesday, according to market sources.

BNP Paribas, Credit Industriel et Commercial SA and ING Bank NV, London Branch are the joint global coordinators and joint lead bookrunners.

BofA Securities, HSBC Bank plc, Natixis and SG CIB are joint bookrunners.

Bayerische Landesbank and Commerzbank AG are co-lead managers.

The stabilization period for the off-the-shelf notes is set to commence on Tuesday.

The electrical supplies distributor plans to use the proceeds, together with available cash, to redeem all or part of its 3½% senior euro notes due June 2023. That redemption is set to take place on or about March 19, 2019.

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