El Corte Inglés places a bond issue worth €500 million: Advisors
El Corte Inglés has completed a new senior bond placement worth €500 million. Demand exceeded supply by approximately nine times and was supported by both national and international investors.
The issue, the second since obtaining Investment Grade status, is aimed at qualified investors and has a maturity of eight years, expiring in July 2033. The bonds will accrue an annual coupon of 3.5%.
The issue will allow the company to diversify its sources of financing, and the funds will be used for general corporate purposes.
The transaction was arranged with the support of seven underwriters: Barclays, BBVA, BofA Securities, CaixaBank, Citi, Goldman Sachs and J.P. Morgan, joined by nine other participating entities: Banco Sabadell, BNP Paribas, Crédit Agricole, Deutsche Bank, Intesa SanPaolo, Kutxabank, Santander, Société Générale and Unicaja.
Advisors
A&O Shearman advised J.P. Morgan Asset Management and the other managers on the issue with a team consisting of Charles Poole-Warren, Ana Garcia Puertas and Soraia Ussene.
Linklaters also advised on the transaction.
