Pluxee: first bond issue largely oversubscribed
The issuer of restaurant vouchers said it had issued a series of bonds for 550 million euros with a 4.5-year maturity and a 3.50% coupon, as well as a 550 million euro issue with an 8.5-year maturity and a 3.75% coupon.
The employee benefits specialist explains that the proceeds of the transaction are to be used to refinance part of the 1.5 billion euro bridge loan agreed with a syndicate of international banks as part of its spin-off from Sodexo.
This inaugural issue was largely oversubscribed, which the Group believes reflects the confidence of institutional investors in the quality of its credit, rated 'BBB+', with a stable outlook, by Standard & Poor's.
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