Rexel launches €500 million and US$500 million note offering
Rexel announced today that it intends to offer €500 million and US$500 million of senior unsecured notes that will mature in 2020. The notes will rank pari passu with Rexel’s senior credit facility and other senior unsecured notes.
The proceeds of the issuance will be used to redeem Rexel’s 8.25% senior notes due 2016 and for general corporate purposes. Rexel will redeem its 8.25% notes at their applicable make-whole redemption premium, plus accrued and unpaid interest. Rexel can elect not to redeem the 8.25% notes if it does not issue at least €500 million of euro-denominated notes as part of this issuance.
Settlement and delivery is expected to take place by early April 2013, market conditions permitting.
NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN AUSTRALIA OR JAPAN
Rexel announced today that it intends to offer €500 million and US0 million of senior unsecured notes that will mature in 2020. The notes will rank pari passu with Rexel’s senior credit facility and other senior unsecured notes.
The proceeds of the issuance will be used to redeem Rexel’s 8.25% senior notes due 2016 and for general corporate purposes. Rexel will redeem its 8.25% notes at their applicable make-whole redemption premium, plus accrued and unpaid interest. Rexel can elect not to redeem the 8.25% notes if it does not issue at least €500 million of euro-denominated notes as part of this issuance.
Settlement and delivery is expected to take place by early April 2013, market conditions permitting.