L'Oréal: E1.25bn bond issue

(CercleFinance.com) - L'Oréal has announced the placement of a bond issue for a total nominal amount of E1.
25bn, which will be listed on Euronext Paris from the settlement-delivery date scheduled for 6 November.

The offering consists of two tranches, one of E750m, with a three-year maturity and a fixed coupon of 2.50% p.a., and the other of E500m with a seven-year maturity and a fixed coupon of 2.875% p.a.

The world leader in cosmetics will use the net proceeds of the bonds for general corporate purposes, including refinancing part of the acquisition of a stake in Galderma.


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