(Boursier.com) — SEB led a private placement of 150 million euros with a maturity of 12 years, with leading institutional investors. This placement of the specialist in small domestic equipment and professional coffee is carried out without financial covenant… It constitutes the first financing with a maturity greater than 10 years for SEB, allowing it to extend the average maturity of its debt.
This issue was carried out under attractive conditions, with a fixed interest rate of 5%. At the same time, Groupe SEB actively manages its interest rate risk in order to optimize its financial burden by allowing it to benefit from falling rates while being covered against possible increases.
The proceeds from this issue, which were settled on April 3, are intended to cover the general needs of Groupe Seb and in particular to contribute to the repayment of the 500 ME bond maturing in May 2024.
Confidence displayed
With this institutional private placement, Seb continues to diversify its sources of financing. The success of the operation “testifies to 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 ME in December 2023 and bank financing in the form of Club €495 million deal finalized in March 2024 with its relationship banks,” underlines the group.
Portzamparc emphasizes that the group, which already had a healthy financial situation, is further strengthening it and significantly reducing the maturity of its debt. Enough to aim for a price of 125 euros while remaining on the purchase file. The stock is stable at 111 euros this Wednesday.
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