(AOF) – Groupe Seb announces the success of a private placement of 150 million euros with a maturity of 12 years, with institutional investors. This placement, without financial covenants, constitutes the first financing with a maturity greater than 10 years for the household appliances group, allowing it to extend the average maturity of its debt. This issue was carried out “on attractive conditions”, with a fixed interest rate of 5%.
Its success demonstrates the confidence of investors in the strategy and long-term prospects of Groupe Seb, after the oversubscribed financing, in the form of Schuldschein, of 650 million euros in December 2023 and bank financing in the form of a Club Deal of 495 million euros finalized in March 2024 with its relationship banks.
AOF – LEARN MORE
Learn more about the Consumer Goods sector
In France, financial aid aimed at encouraging consumers to repair rather than throw away objects now also applies to clothing and shoes.
The principle remains the same for clothing and shoes as for the selection of electronic products: the consumer must go to an approved repairer to benefit from assistance which cannot exceed 60% of the cost of the repair. The approved organization, “Refashion”, aims to increase the number of repairs by 35% by 2028. The Repair Fund, fueled by “eco-contributions” from brands, finances the operation. However, the question is whether this bonus will have to face the same difficulties as that for household appliances, which has not met with the expected success, in particular due to complex labeling procedures.