Calyon acted as joint global coordinator and joint bookrunner for Rexel’s bond issue. The Bank acted jointly with The Royal Bank of Scotland Plc and BofA Merrill Lynch for this transaction.
The bond issue due 2016 was issued successfully. The transaction reached EUR 575 million, up 15% compared to an initial considered amount of EUR 500 million.
The order book was approximately EUR 1.3 billion, demonstrating the confidence that investors have in the strategy pursued by the group. The delivery and settlement and the listing of the notes on the Euro MTF market of the Luxembourg Stock Exchange occured on December 21, 2009.
This transaction will enhance Rexel’s financial flexibility, extend its debt maturity profile and cover the group’s financing needs.
This mandate, together with the position of Calyon as global coordinator for the refinancing of the syndicated credit facility confirms Calyon’s position as Rexel group core bank.
Rexel is a global leader in the distribution of electrical supplies and its activities serve three main markets: industrial, commercial and residential. Thanks to a network of some 2,300 branches, the group operates in 34 countries.