El Corte Inglés places a 500 million euro bond issue: Advisors
El Corte Inglés has completed the placement of senior bonds in the amount of 500 million euros. The issue, aimed at qualified investors, is for a term of seven years and matures in June 2031. The bonds will accrue an annual coupon of 4.25%.
The transaction is the first issue with an investment grade corporate rating from the credit agencies Standard & Poor’s and Fitch. The issue will enable the company to diversify its sources of financing and the proceeds will be used for general corporate needs.
The operation has been articulated with the support of seven underwriters: Bank of America, BNP Paribas, Crédit Agricole CIB, Deutsche Bank, JP Morgan, Grupo Santander and Société Générale. In addition to nine other participating entities: Barclays, BBVA, CaixaBank, Citigroup, Goldman Sachs, Intesa Sanpaolo, Kutxabank-Norbolsa, Sabadell and Unicaja-Kenta Capital.
Linklaters and Cuatrecasas, as well as A&O Shearman, participated as lawyers in the transaction.
A&O Shearman has advised J.P. Morgan and the other managers. The team has been formed by partner Charles Poole-Warren, and associates Ana García Puertas and Eloise Knott.
Linklaters has advised El Corte Inglés. The team was led by partners Federico Briano and Jorge Alegre, with the support of Álvaro Albors and Yiannis Kyriakides.
