Bureau Veritas announced the successful placement of a EUR 500 million A3 rated (by Moody?s) new bond issue maturing in May 2036 and carrying a coupon of 3.5%. The final orderbook amounted to more than EUR 1.5 billion, which represents 3 times the targeted amount. Such a high level of oversubscription enabled Bureau Veritas to price with a final spread much below initial price indications.

This underlines the strong investors? confidence in Bureau Veritas business model as well as the quality of its credit profile, the latter having been confirmed by the A3 rating (with a Stable outlook) recently assigned by Moody?s. This issuance allows Bureau Veritas to seize attractive market conditions for general corporate purposes including the refinancing of its bond maturing in January 2025, thereby lengthening the average maturity of its debt. Admission of the bonds to trading on Euronext Paris will be effective on the settlement date, which is expected to take place on May 22, 2024.