(CercleFinance.com) – The French small household appliance group Seb announced on Monday that it had raised 350 million euros as part of a new private placement.
This financing, issued in December on the German market for ‘Schuldschein’, is divided into three maturities of respectively five, seven and 10 years, specifies the group in a brief press release.
From an amount initially planned at 200 million euros, the placement was increased to 350 million due to a very strong oversubscription, the order book having exceeded the threshold of one billion euros.
According to Seb, this success testifies to the ‘confidence’ of investors in its strategy and its prospects.
This new issue should make it possible to refinance the financing instruments due in 2021, to extend the average maturity of the debt and to benefit from financing conditions deemed ‘very attractive’.
The ‘Schuldschein’ is a loan typically issued by medium or large companies with a turnover of less than five billion euros, but with good credit quality.
As a reminder, Seb has an ‘A2’ rating from Standard & Poor’s for its short-term debt.
The group also announced that it has finalized the renewal of its syndicated loan, for an amount of 990 million euros, for a period of five years with two one-year extension options.
The Seb share was down slightly (-0.5%) on Monday on the Parisian market, in line with the decline in the SBF 120 index.