REXEL : SUCCESFUL PLACEMENT OF THE ?300 MILLION NOTES OFFERING
(Thomson Reuters ONE) -
NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA,
CANADA OR JAPAN
SUCCESSFUL PLACEMENT OF THE ?300 MILLION NOTES OFFERING
Rexel, a global leader in the professional distribution of products and services
for the energy world, has successfully placed ?300 million of its 2.625%
unsecured senior notes due 2024 (the "Notes").
The delivery and settlement and the listing of the notes on the Euro MTF market
of the Luxembourg Stock Exchange are expected to occur on or about March
13, 2017.
The Notes, which mature on June 15, 2024, will be callable as from March 2020.
They will rank pari passu with Rexel's senior credit facility and other senior
unsecured notes. The Notes are expected to obtain the following ratings: Ba3 by
Moody's (while Rexel's corporate rating is Ba2 with a stable outlook), BB- by
S&P (while Rexel's corporate rating is BB with a stable outlook) and BB by Fitch
(in line with Rexel's corporate rating with a stable outlook).
Rexel will use the proceeds of the issuance of the Notes, together with some
available cash, to redeem all of the 5.250% senior US$ notes due June 2020 (the
"2020 Notes") of which US$330,000,000 remain outstanding. Rexel expects to
redeem the 2020 Notes on or about June 15, 2017. Rexel can elect not to redeem
the 2020 Notes if it does not issue the Notes or if there is a material adverse
change in financial markets.
This issuance will allow Rexel to enhance its financial structure by extending
its debt maturity profile and reducing its overall cost of financing.
BNP Paribas and Crédit Agricole Corporate and Investment Bank acted as Joint
Global Coordinators, and as Joint Lead Bookrunners for the offering. Merrill
Lynch International, HSBC Bank plc and Natixis acted as Joint Bookrunners, and
Banco Bilbao Vizcaya Argentaria, S.A., Crédit Industriel et Commercial S.A. and
Société Générale acted as Co-Lead Managers.
Patrick BERARD, Chief Executive Officer, said:
"The success of this new seven-year note issuance confirms investor confidence
in Rexel's business model and strategy. It will allow us to refinance the
5.250% notes issued in 2013 at a significantly lower cost.
This operation constitutes a further step in our continuous efforts to
strengthen our balance sheet and reduce our cost of financing."
This document is not an offer of securities for sale nor the solicitation of an
offer to purchase securities in France, in the United States or any other
jurisdiction.
The securities described herein may not be offered or sold in the United States
or to, or for the account or benefit of, U.S. persons unless they are registered
or exempt from registration under the U.S. Securities Act of 1933, as amended
(the "Securities Act"). The securities described herein have not been and will
not be registered under Securities Act and Rexel does not intend to make a
public offer of its securities in the United States.
The offer and sale of the Notes in France will be carried out through a private
placement in accordance with article L.411-2 of the French Financial and
Monetary Code and other applicable laws and regulations. There will be no public
offering in France
ABOUT REXEL GROUP
Rexel, a leader in the professional distribution of products and services for
the energy world, addresses three main markets - residential, commercial and
industrial. The Group supports its customers to be at their best in running
their business, by providing a broad range of sustainable and innovative
products, services and solutions in the field of technical supply, automation
and energy management. Rexel operates through a network of some 2,000 branches
in 32 countries, with more than 27,000 employees. The Group's sales were ?13.2
billion in 2016.
Rexel is listed on the Eurolist market of Euronext Paris (compartment A, ticker
RXL, ISIN code FR0010451203). It is included in the following indices: SBF 120,
CAC Mid 100, CAC AllTrade, CAC AllShares, FTSE EuroMid, STOXX600. Rexel is also
part of the following SRI indices : FTSE4Good, STOXX® (STOXX® Global ESG Impact,
STOXX® Low Carbon indices Global, Europe et EURO), Ethibel Sustainability Index
Excellence Europe and Dow Jones Sustainability Index Europe, in recognition of
its performance in corporate social responsibility (CSR). For more information,
visit Rexel's web site at www.rexel.com
CONTACTS
FINANCIAL ANALYSTS / INVESTORS
Marc MAILLET +33 1 42 85 76 12 marc.maillet(at)rexel.com
Florence MEILHAC +33 1 42 85 57 61 florence.meilhac(at)rexel.com
PRESS
Elsa LAVERSANNE +33 1 42 85 58 08 elsa.laversanne(at)rexel.com
Brunswick: Thomas KAMM +33 1 53 96 83 92 tkamm(at)brunswickgroup.com
DISCLAIMER
No communication and no information in respect of the offering by Rexel of notes
described in this announcement (the "Notes") may be distributed to the public in
any jurisdiction where a registration or approval is required. No steps have
been or will be taken in any jurisdiction where such steps would be required.
The offering or subscription of the Notes may be subject to specific legal or
regulatory restrictions in certain jurisdictions. Rexel takes no responsibility
for any violation of any such restrictions by any person.
This announcement is not a prospectus within the meaning of Directive
2003/71/EC of the European Parliament ant the Council of November 4, 2003 as
implemented in each member State of the European Economic Area and amendments
thereto, including Directive 2010/73/EU (the "Prospectus Directive").
This announcement does not, and shall not, in any circumstances constitute a
public offering nor an invitation to the public in connection with any offer in
any jurisdiction.
The offer and sale of the Notes in France will be carried out through a private
in accordance with article L.411-2 of the French Financial and Monetary Code and
other applicable laws and regulations. There will be no public offering in
France.
With respect to the member States of the European Economic Area, other than
France, which have implemented the Prospectus Directive, the Notes may only be
offered under circumstances not requiring Rexel to publish a prospectus as
provided under article 3(2) of the Prospectus Directive.
This communication does not constitute an offer to the public in the United
Kingdom. No prospectus has been or will be approved in the United Kingdom in
respect of the Notes. The distribution of this press release is not made, and
has not been approved, by an "authorized person" within the meaning of Article
21(1) of the Financial Services and Markets Act 2000. As a consequence, this
press release is directed only at persons who (i) are located outside the United
Kingdom, (ii) have professional experience in matters relating to investments
and fall within Article 19(5) ("investment professionals") of the Financial
Services and Markets Act 2000 (Financial Promotions) Order 2005 (the "Order") ,
(iii) are persons falling within Article 49(2)(a) to (d) ("high net worth
companies, unincorporated associations, etc.") of the Order or (iv) are persons
to whom this communication may otherwise lawfully be communicated (all such
persons together being referred to as "Relevant Persons"). The Notes are
directed only at Relevant Persons and no invitation, offer or agreement to
subscribe, purchase or otherwise acquire such Notes may be proposed or made
other than with Relevant Persons. Any person other than a Relevant Person may
not act or rely on this document or any provision hereof. This press release is
not a prospectus which has been approved by the Financial Services Authority or
any other United Kingdom regulatory authority for the purposes of Section 85 of
the Financial Services and Markets Act 2000.
This press release does not constitute or form a part of any offer or
solicitation to purchase or subscribe for securities in the United States. The
Notes have not been and will not be registered under the Securities Act, or with
any securities regulatory authority of any state or other jurisdiction in the
United States, and may not be offered or sold, directly or indirectly, within
the United States or to, or for the account or benefit of, U.S. persons, as such
term is defined in Regulation S under the Securities Act ("Regulation S"),
expect pursuant to an exemption from or in a transaction not subject to the
registration requirements of the Securities Act. The Notes are being offered and
sold only outside the United States to non-U.S. persons in "offshore
transactions" as defined in and in accordance with Regulation S. Rexel does not
intend to register any portion of the offering in the United States or to
conduct an offering of securities in the United States.
The distribution of this document in certain countries may constitute a breach
of applicable law. The information contained in this document does not
constitute an offer of securities for sale in the United States, Australia,
Canada or Japan.
This press release may not be published, forwarded or distributed in the United
States, Australia, Canada or Japan
Success notes offering:
http://hugin.info/143564/R/2082451/784700.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: REXEL via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 27.02.2017 - 17:45 Uhr
Sprache: Deutsch
News-ID 526833
Anzahl Zeichen: 11065
contact information:
Town:
Paris
Kategorie:
Business News
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