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Euronext part finances ISE acquisition with its inaugural €500m bond issue, to be listed on its new Dublin exchange, Euronext Dublin Back
11 April 2018: Euronext, the leading pan-European exchange in the Eurozone with more than 1,300 listed issuers, launched a €500 million, 7-year inaugural bond issue, rated by S&P “A”, with an annual coupon of 1% and listed on Euronext Dublin. Euronext N.V. is rated “A, stable outlook” by S&P since 3 April 2018.
Euronext, the leading pan-European exchange in the Eurozone with more than 1,300 listed issuers, launched a €500 million, 7-year inaugural bond issue, rated by S&P “A”, with an annual coupon of 1% and listed on Euronext Dublin1. Euronext N.V. is rated “A, stable outlook” by S&P since 3 April 20182.

The order book reached an amount of more than €2.2bn, and was more than 4.4 times oversubscribed. The success of this transaction shows investors' strong confidence in Euronext’s ambitions, strategy and solid credit profile.

The proceeds of the issue will be used to (i) refinance in whole the existing €165m term loan and drawings under the revolving credit facility in connection with the acquisition of Euronext Dublin, and (ii) for general corporate purposes in line with the Agility for Growth strategy. BNP Paribas and Credit Agricole CIB acted as Joint Global Coordinators, and ABN AMRO, ING, MUFG and Societe Generale Corporate and Investment Banking acted as Joint bookrunners on the transaction.

Stephane Boujnah, Chief Executive Officer and Chairman of the Managing Board of Euronext, said: “This inaugural €500 million bond offering will allow Euronext to diversify its funding mix and provide enhanced flexibility for future capital allocation decision while benefiting from current market conditions. We are pleased that our first bond issuance took place on Euronext Dublin which is part of Euronext group since 27 March 2018, and the very positive reception given to this issue underscores investors’ confidence in Euronext’s strategy and ambitions”.

For more see: 'Deal prelude to new listings drive' in the March 2018 issue of Finance Dublin.
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