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November 29, 2018

Successful €500 million bond issue

Edenred, the world leader in transactional solutions for companies, employees and merchants, today announced the success of its €500 million 7-year bond issue. The bonds mature on March 6, 2026 and will pay a coupon of 1.875%.

The new bond issue will help finance Edenred’s growth plans, including the acquisition of Corporate Spending Innovations (CSI), one of the leading providers of automated corporate payment solutions in North America. It will also provide Edenred with greater financial flexibility, extend the maturity of its debt and diversify its financial resources under favorable conditions.

Placed with a diverse base of international institutional investors, the bond issue was more than two times oversubscribed – with total demand amounting to more than €1 billion – reflecting the market’s confidence in the Group’s credit quality. 

Patrick Bataillard, Executive Vice President, Finance, said: “The success of the bond issue under favorable conditions reflects the confidence investors place in Edenred’s strategy of profitable and sustainable growth.

Edenred is rated “BBB+/A-2” with a stable outlook by rating agency Standard & Poor’s, which means its securities are considered “strong investment grade” by market participants.

Barclays, BNP Paribas, Citi, Crédit Agricole CIB and Société Générale CIB served as joint active bookrunners. Crédit Mutuel-CIC, HSBC and ING also acted as joint bookrunners.

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