By William Gullotti
Buffalo, N.Y., July 21 – Elis signed a new $200 million U.S. private placement financing arrangement with a group of U.S. investors led by MetLife Investment Management on Friday, according to a press release.
The new notes mature July 2035 and carry a 6.03% coupon, when calculated in dollars. According to the press release, the company subsequently “swapped” the notes in euro for a total amount of €183 million with a 5.21% coupon.
Proceeds will be exclusively used to refinance existing debt, specifically the company’s €500 million bond maturing in April 2024.
According to the press release, the deal marks Elis’ third private placement financing arrangement.
Elis is a Saint-Cloud, France-based company that specializes in the rental and maintenance of professional clothing, textile articles, hygiene and well-being appliances.
| Issuer: | Elis
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| Amount: | $200 million/€183 million
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| Issue: | Financing notes
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| Maturity: | July 2035
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| Coupon: | 6.03%/5.21%
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| Arranger: | MetLife Investment Management
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| Distribution: | Private Placement
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