Success of the bond issue
Rueil-Malmaison, France, September 25, 2007 – Schneider Electric today launched a €600 million bond issue with fixed coupon and maturing in January 2015, in order to refinance APC acquisition while extending its average debt duration. This transaction was led by Barclays Capital, Natixis, Royal Bank of Scotland and Société Générale.
This bond issue, oversubscribed more than 9 times in one day, was very much welcomed by investors. It was therefore priced at the tightest end of the indicative spread ranges, i.e mid-swap +80bp.
The very positive response from the market to this bond issue, rated “BBB+” by Standard & Poor’s, shows investors’ confidence in Schneider Electric sound business fundamentals.
The details of the issuance, made as part of Schneider Electric EMTN program, are the following:
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