ROTTERDAM, The Netherlands – Louis Dreyfus Company Finance B.V. announced yesterday the successful pricing of a €650 million, 7-year, senior bond (BBB+) with a 3.50% coupon guaranteed by Louis Dreyfus Company B.V. (LDC).
Application has been made to list the bonds on the Luxembourg Stock Exchange’s regulated market. The offering is expected to close on October 22, 2024, subject to customary closing conditions.
“Driven by high investor demand, once again reflecting strong confidence and appetite for LDC credit, the bond issue was significantly oversubscribed, with orders reaching €2.4 billion from close to 160 investors.
We thank investors for their continued trust in LDC’s business strategy and their positive long-term outlook for our sector and operations,” said Michael Gelchie, LDC’s Chief Executive Officer.
“Building on LDC’s recently upgraded public rating (BBB+ with stable outlook) by S&P Global Ratings, this transaction allows the Group to extend its overall maturity profile while further reinforcing its liquidity position at favorable conditions, ensuring financial flexibility and maintaining diversified funding sources for the company,” said Patrick Treuer, LDC’s Chief Financial Officer.
The proceeds will be used for general corporate purposes.
Citigroup, Crédit Agricole CIB, J.P. Morgan and Mizuho are active joint lead managers on the deal.
