Rexel wins “Club des Trente” award for best financing transaction
Rexel, a global leader in the distribution of electrical supplies, was yesterday presented the Club des Trente (Club of Thirty) award for the best financing transaction in 2009.
The award recognizes Rexel’s refinancing of its debt through two major transactions: the Group’s return to the bond market in late 2009, with the offering of €650 million in seven-year notes, and its renegotiation of a new €1.7 billion Senior Credit Agreement comprised of a three-year and a five-year revolving credit facility. The two transactions have enhanced Rexel’s market credibility, extended its debt maturity profile, reduced its financing costs and increased its financial flexibility and ability to pursue acquisition opportunities.
The Club des Trente is comprised of the Chief Financial Officers of France’s largest corporations. Supported by the HEC Paris business school and the Paris Chamber of Commerce and Industry, every year the Club organizes and delivers annually an award for the best financing transaction. The award reflects the successful alignment of the transaction with the company’s strategic vision, as well as with a variety of employee relations, human resources, cultural, environmental and sustainable development criteria.