Rexel launches a €100 million tap issue on its 2.125% senior unsecured sustainability-linked notes due 2028
Building on the success of its €300 million inaugural sustainability-linked notes due 2028 issued on May 5, 2021 (the “2028 Notes”), Rexel, worldwide expert in the multichannel professional distribution of products and services for the energy world, announced today that it intends to offer an additional €100 million of its 2028 Notes (the “Additional Notes”). The Additional Notes will be issued under the same terms and be fully fungible with the 2028 Notes after expiration of a 40-day period.
Rexel will use the proceeds of the issuance of the Additional Notes, together with available cash, to redeem part of the 2.125% senior Euro notes due June 2025 issued by Rexel on November 20, 2017 (the “2025 Notes”). Rexel expects to redeem in part the 2025 Notes on or about May 25, 2021. Rexel can elect not to redeem in part the 2025 Notes if it does not issue all the Additional 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 at favorable financing conditions.