On February 18, 2010, Crédit Agricole CIB acted as lead manager alongside BNP Paribas, JP Morgan and RBS in Legrand’s first bond issue.

The EUR 300 million issue was highly successful and met with sustained demand. The order book was largely oversubscribed and closed after around 15 minutes with a final amount of EUR 2 billion. The bond which comes due in 2017 carries a coupon of 4.25% a year.

"With the order book rapidly oversubscribed by a factor of six, the complete success of the issue illustrates investors’ faith in the group’s strategy, fundamentals and financial structure", said Legrand management in its statement.

This transaction is Legrand’s first in the euro-denominated corporate bond market. Its purpose is to diversify its sources of financing and extend the maturity of the company’s debt.

Legrand is a global specialist in products and systems for electrical installations and information networks for residences and work premises.