Rueil-Malmaison (France), January 7, 2009 – Schneider Electric today launched a €750 million bond issue with fixed coupon and maturing in July 2013, with a view to further reinforce its liquidity position and extend the average debt duration. This transaction was led by Barclays Capital, Natixis, Royal Bank of Scotland and Société Générale, and co-managed by BBVA, Banca IMI, Nordea and Santander.
This bond issue was significantly oversubscribed with total orders amounting to nearly € 3.5 billion and was priced at mid-swap +360bp.
The very positive response from the market to this bond issue shows investors’ confidence in Schneider Electric’s sound financial position, rated “A-” by Standard & Poor’s and “A3” by Moody’s.
The details of the issuance, made as part of Schneider Electric EMTN program, are the following:
| |
Tranche
|
Amount
Maturity
Coupon
Issue price |
€ 750 million
July 2013
6.75%
99.956
|
About Schneider Electric
As a global specialist in energy management with operations in more than 100 countries, Schneider Electric offers integrated solutions across multiple market segments, including leadership positions in energy and infrastructure, industrial processes, building automation, and data centres/networks, as well as a broad presence in residential applications. Focused on making energy safe, reliable, and efficient, the company's 120,000 employees achieved sales of more than 17.3 billion euros in 2007, through an active commitment to help individuals and organizations “Make the most of their energy.”
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