Chicago, Nov. 20 – Schneider Electric SA placed €650 million of 1.97% Oceanes due 2030 with an initial 42.5% conversion premium, according to a release.
The bonds are redeemable starting Dec. 18, 2028, subject to a 150% hurdle.
Bondholders have conversion or exchange rights after 40 days.
The initial conversion ratio is 426.6601 shares per bond.
The bonds will be listed for trading on Euronext Access.
The bonds were placed with qualified investors only. The company was aiming for a maximum nominal amount of €750 million.
Price talk was for a coupon between 1.47% and 1.97% and an initial conversion premium of 42.5% and 47.5%.
Proceeds will be used for general corporate purposes.
The energy management company is based in Rueil-Malmaison, France.
| Issuer: | Schneider Electric SA
|
| Amount: | €650 million
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| Issue: | Oceanes
|
| Maturity: | 2030
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| Coupon: | 1.97%
|
| Conversion premium: | 42.5%
|
| Conversion rate: | 426.6601
|
| Call features: | At par starting Dec. 18, 2028, subject to 150% hurdle
|
| Trade date: | Nov. 20
|
| Settlement date: | Nov. 27
|
| Price talk: | 1.47% to 1.97%, initial conversion premium of 42.5% and 47.5%
|
| Stock symbol: | Euronext Paris: SU.PA
|
| Stock price: | €163.30 on Nov. 20
|
| Market capitalization: | €93.54 million
|
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