Success for Legrand’s second euro bond issue
Legrand today successfully launched and priced its new euro-denominated bond issue, which is for €400 million over seven years. The maturity date is March 21, 2018 and the annual coupon is 4.375%.
With the order book quickly oversubscribed more than 4 times, the overwhelming success of this new issue demonstrates investors’ confidence in the group’s business model, prospects and sound financial structure.
The transaction continues the diversification of Legrand’s sources of financing and th extension of the maturity of its debt.
Legrand mandated BP Paribas, atixis and SG CIB as Joint Lead Managers for the issue, and BBVA and HSBC as Co-Lead Managers.