Edenred successfully issues €600 million in bonds
10 Junho 2020 - 1:18PM
Edenred successfully issues €600 million in bonds
Press releaseJune 10, 2020
Edenred successfully issues €600 million in
bonds
Edenred today announced the success of its €600
million 9-year bond issue. The bonds will mature on June 18, 2029
and pay a coupon of 1.375%.
The bond issue will enable the Group to
strengthen its financial resources and extend the average maturity
of its debt under favorable conditions. Edenred will allocate the
net proceeds from the issue to general corporate purposes, as well
as to refinancing €250 million in bonds with a coupon of
2.625% maturing in late October 2020.
Placed with a diverse base of international
institutional investors, the bond issue was more than 2 times
oversubscribed, with total demand exceeding €1.2 billion.
The success of the transaction reflects the
market’s confidence in the Group’s credit quality, following on
from the renewal of its “Strong Investment Grade” (BBB+A-2 Outlook
stable) credit rating by Standard & Poor’s in May.
Patrick Bataillard, Executive
Vice President, Finance, said: “Through the amount
raised, the time to maturity and the conditions obtained, the
success of this bond issue once again demonstrates the confidence
investors place in the strength of Edenred’s model and outlook. The
transaction is part of our policy of actively managing our
financial resources, aimed at securing our financing options over
the long term while optimizing our cost of debt and giving us all
the flexibility needed to pursue our Next Frontier strategic
plan.”
Barclays, Crédit Agricole CIB and Société
Générale CIB served as global coordinators and joint active
bookrunners. BNP Paribas, Citi, Commerzbank, HSBC and J.P. Morgan
also acted as joint active bookrunners.
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Edenred is a leading services
and payments platform and the everyday companion for people at
work, connecting 50 million employees and 2 million partner
merchants in 46 countries via more than 850,000 corporate
clients.
Edenred offers specific-purpose payment
solutions for food (meal vouchers), fleet and mobility (fuel cards,
commuter vouchers), incentives (gift vouchers, employee engagement
platforms) and corporate payments (virtual cards). These solutions
enhance employee well-being and purchasing power, improve
companies’ attractiveness and efficiency, and vitalize the
employment market and the local economy.
Edenred’s 10,000 employees are committed to
making the world of work a connected ecosystem that is safer, more
efficient and more user-friendly every day.
In 2019, thanks to its global technology assets,
the Group managed €31 billion in business volume, primarily carried
out via mobile applications, online platforms and cards.
Edenred is listed on the Euronext Paris stock
exchange and included in the following indices: CAC Next 20,
FTSE4Good, DJSI Europe and MSCI Europe.
For more information: www.edenred.com
The logos and other trademarks mentioned and
featured in this press release are registered trademarks of
Edenred S.A., its subsidiaries or third parties. They may not
be used for commercial purposes without prior written consent from
their owners.
Edenred is celebrating its tenth anniversary in
2020.
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CONTACTS
Communication Department Marie-Laurence
Bouchon+33 (0)1 86 67 20
08marie-laurence.bouchon@edenred.com Media
Relations Matthieu Santalucia+33 (0)1 86 67 22
63matthieu.santalucia@edenred.com |
Investor
Relations Solène Zammito+33 (0)1 86 67 23
13solene.zammito@edenred.com Loïc Da Silva+33 (0)1 86 67
20 67loic.dasilva@edenred.com |
- 2020 06 10 - Edenred bond PR
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