Suez Environnement buys back €352 million subordinated perpetuals

By Sarah Lizee

Olympia, Wash., Sept. 12 – Suez Environnement Co. repurchased €352 million of its subordinated perpetual notes issued in 2014, according to a notice.

As previously reported, the company launched a tender offer to repurchase any and all of the notes, subject to a new issue of €500 million subordinated perpetuals.

The company said Thursday that it had priced €352 million of 1.625% undated deeply subordinated hybrid bonds. Proceeds were partially used for the buyback.

CaixaBank, Citigroup, Credit Industriel et Commercial, Deutsche Bank, MUFG, Natixis, Natwest Markets Santander, Societe General and UniCredit managed the transaction.

Based in Paris, Suez Environnement is an international water and waste management services company.

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