Success for Legrand’s new euro bond issue
Legrand today successfully launched and priced its new euro-denominated bond issue, which is for €400 million over ten years. The maturity date is April 19, 2022 and the annual coupon is 3.375%.
With the order book quickly oversubscribed more than 2 times, the success of this new issue demonstrates once again investors’ confidence in the soundness of Legrand’s business model and the quality of the group’s financial structure as attested by its A- rating from Standard and Poor’s.
Following two successful bond issues in 2010 and 2011 and the renewal of the revolving facility of its syndicated loan in the second half of 2011, Legrand is continuing to successfully diversify its sources of financing and extend the maturity of its debt, strengthening further an already very sound balance sheet.