Rexel successfully completes a €100 million tap issue on its 2.125% unsecured senior sustainability-linked notes due 2028
Rexel, worldwide expert in the multichannel professional distribution of products and services for the energy world, has successfully placed an additional €100 million (the ”Additional Notes”) to its €300 million sustainability-linked notes due 2028 issued on May, 5, 2021 (the “2028 Notes”). The Additional Notes will be issued under the same terms as the 2028 Notes, at a price of 100.875%, equating to yield equivalent of 1.992%, and be fully fungible with the 2028 Notes after expiration of a 40-day period.
The delivery and settlement and the listing of the Additional Notes on the Euro MTF market of the Luxembourg Stock Exchange are expected to occur on or about May 18, 2021.
The Additional Notes have obtained the following ratings: Ba3 by Moody’s (while Rexel’s corporate rating is
Ba2 with a stable outlook) and BB- by S&P (while Rexel’s corporate rating is BB with a stable outlook).
In line with the Paris Agreement on climate change and validated by the Science Based Targets initiative (SBTi), Rexel has set for 2030 objectives that aim to contribute to limiting global warming to well below +2°C by the end of the century.
“The success of this new transaction highlights once again the strong support of the investor community for Rexel’s business model, with sustainability at the center of its strategy.”
Patrick Berard, CEO of Rexel