By Wendy Van Sickle
Columbus, Ohio, June 1 – Elis SA signed an agreement for a private placement of $175 million 4.32% 10-year notes with a group of U.S. investors led by Barings, according to a news release.
The notes have been swapped into euro for a total amount of €159 million, which will pay a 3% coupon in euro.
Along with the proceeds of Elis’ recent €300 million bond issue maturing in May 2027, this new financing will be used to refinance the €450 million notes due Feb. 15, 2023, which will be callable at par starting Nov. 15, 2022.
The Saint-Cloud, France-based provider of work uniforms and related services plans to use the proceeds for general corporate purposes, including debt refinancing.
| Issuer: | Elis SA
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| Amount: | $175 million
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| Issue: | Notes
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| Maturity: | June 2032
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| Coupon: | 4.32%
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| Announcement date: | June 1
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| Distribution: | Private placement
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