By Lisa Kerner
Charlotte, N.C., Feb. 10 - Safran SA announced it issued senior notes totaling $1.2 billion in the U.S. private placement market to accredited institutional investors.
The notes were issued as follows:
• $155 million of 3.7% notes due February 2019;
• $540 million of 4.28% notes due February 2022; and
• $505 million of 4.43% notes due February 2024.
The placement agents and joint bookrunners were Bank of America Merrill Lynch and Citigroup.
Safran said the placement allows it to diversify its funding sources, lengthen the maturity of its debt profile and provide long-term funding for acquisitions made in the past three years, especially in the United States.
The securities will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration.
Paris-based high-technology group Safran operates three core businesses: aerospace, defense and security.
| Issuer: | Safran SA
|
| Issue: | Senior notes
|
| Amount: | $1.2 billion
|
| Bookrunners: | Bank of America Merrill Lynch and Citigroup
|
| Announcement date: | Feb. 10
|
|
|
| Seven-year notes
|
| Amount: | $155 million
|
| Maturity: | February 2019
|
| Coupon: | 3.7%
|
|
|
| 10-year notes
|
| Amount: | $540 million
|
| Maturity: | February 2022
|
| Coupon: | 4.28%
|
|
|
| 12-year notes
|
| Amount: | $505 million
|
| Maturity: | February 2024
|
| Coupon: | 4.43%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
