(Boursier.com) — Compagnie Générale des Etablissements Michelinwhose long-term senior debt is rated A- (outlook stable) by Standard & Poor’s and A- (outlook stable) by Fitch Ratings, today carried out a bond issue denominated in euros for a total amount of 1 billion euros in two tranches of 7 and 12 years.
Favorable market conditions and the positive reaction of investors to the announcement of the issue allowed the Company to place these bonds at a coupon of 3.125% at 7 years and 3.375% at 12 years.
The net proceeds from this bond issue will be allocated to the general needs of the group.
The bonds were placed with qualified investors.
Admission of the bonds to listing will be requested from Euronext Paris.
The bonds are expected to be rated A- by Standard & Poor’s and A- by Fitch Ratings.
Société Générale is the global coordinator and lead manager of this bond issue, accompanied by Crédit Agricole CIB, BNP Paribas, Citigroup, Deutsche Bank, HSBC, MUFG, BofA Securities, CIC Market Solutions as lead managers.
This issue was carried out as part of the Michelin Group’s EMTN program set up in December 2023 with the Financial Markets Authority.
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