ECULLY, France – Groupe SEB announces the success of a €150m, 12-year private placement, with leading institutional investors. The placement comes without financial covenants and is SEB’s first with a maturity of more than 10 years, enabling it to extend the average maturity of its debt.
It reflects investors’ confidence in Groupe SEB’s long-term strategy and prospects, following the oversubscribed Schuldschein financing of €650m in December 2023 and a €495m Club Deal arranged with its relationship banks in March 2024.
This institutional private placement further diversifies Groupe SEB’s sources of financing.
The issuance was made on favorable terms, with a fixed interest rate of 5.0%. Meanwhile, Groupe SEB is actively managing its interest-rate risk to optimize its financial expenses by benefiting from falling interest rates while being hedged against any potential rises.
The proceeds of this issuance, settled on 3 April 2024, will be used to cover Groupe SEB’s general corporate needs and notably contributing to the repayment of the €500m bond issue maturing in May 2024.
The bonds issued are listed on Euronext Access.
Société Générale arranged the transaction.
