By Lisa Kerner
Charlotte, N.C., June 29 Edenred SA issued a 250 million Schuldschein loan with five- and seven-year tranches with fixed- and floating-rate coupons, according to a news release.
The average maturity is 6.1 years.
Edenred said the issue was significantly oversubscribed and was increased to 250 million, from 125 million, in order to meet investor demand.
The issue enables us to secure our next loan repayment and extend the maturity of our debt, while the particularly attractive terms of the transaction resulted in a reduction of our average cost of debt, said executive vice president Patrick Bataillard.
The issue was arranged by Bayerische Landesbank and Commerzbank AG.
Edenred, based in Malakoff, France, offers employee benefits products, including meal and food vouchers under the Ticket Restaurant and Ticket Alimentacion brand names, and quality of life benefits products, which comprise vouchers that allow employers to contribute for childcare.
| Issuer: | Edenred SA
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| Issue: | Schuldschein loan
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| Amount: | 250 million
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| Coupon: | Fixed and floating rates
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| Maturity: | Five and seven years; average 6.1 years
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| Distribution: | Private placement
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| Arrangers: | Bayerische Landesbank, Commerzbank AG
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