(Boursier.com) — L’Oreal placed a bond issue for a total nominal amount of €2 billion under its €5 billion EMTN programme.
The offer is made up of two tranches:
– A tranche of 1 MdE at 2 years, with a fixed rate coupon of 3.125% per year,
– A tranche of 1 MdE at 5 years, with a fixed rate coupon of 2.875% per year.
This new issue received an exceptional reception from the market with a total demand of 4.5 billion Euros, ie more than 2.2 times the combined volume of supply.
The amount raised during this bond issue will be used for general corporate purposes, including the acquisition of Asop.
These bonds are rated ‘AA’ (‘Stable’) by S&P and ‘Aa1’ (‘Stable’) by Moody’s. They will be admitted to trading on Euronext Paris from the settlement-delivery date scheduled for May 19.
Remember that the L’Oréal share is currently at a price of 423.7 euros.
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