Nexans announces today the success of a bond issuance for an aggregate principal amount of EUR 350 million with a 6-year maturity and an annual interest rate of 4.25%.
This transaction has been welcomed by a diversified base of institutional fixed income investors in France and abroad and four times oversubscribed. The strong demand allowed Nexans to tighten a low coupon for a 6-year maturity with regard to market conditions.
Nexans seizes the opportunity offered by a favorable and well-oriented market environment to refinance in advance its outstanding EUR 200 million 2.75% bonds due April 5, 2024. The remaining part of the net proceeds will be allocated to general corporate purposes.
The success of this new bond issuance confirms financial market confidence in Nexans’ strategy and robust performance. Nexans is building on its strong and lasting relation with its investors.
Deputy CEO and CFO, Nexans
The bond is rated BB+ by Standard & Poor’s and is admitted to trading on the regulated market of Euronext in Paris as from its issue date.