In early July, Crédit Agricole CIB co-lead managed a 10-year bond issue launched by Schneider Electric. The other co-lead managers were Deutsche Bank, Société Générale CIB and Bank of America.

 

The EUR 500 million issue had a coupon of 3.625%, which is exceptional for a company for such a maturity. The issue was broadly oversubscribed with demand totalling nearly EUR 2.1 billion. The level of the coupon was proof of investors’ confidence and the creditworthiness of Schneider Electric, which also benefited from a sharply improved credit market environment during the period.

 

The issue was accompanied by another, six-year issue with a coupon of 2.875%. Both are part of Schneider Electric’s EMTN program and are intended for the partial refinancing of the company’s debt and the extension of its average maturity.

 

Crédit Agricole CIB has worked on various projects with Schneider Electric for many years. In particular, last June, Crédit Agricole CIB arranged a new EUR 105 million company savings plan for Schneider Electric involving 16 countries.