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Euronext successfully launches a €1.8 billion dollar bond issue, listed on Euronext Dublin
Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo and Paris – 07 May 2021 – Euronext, the leading pan-European market infrastructure, successfully validated a senior bond issue in three tranches representing a total amount of 1.8 billion euros.
The bonds will be admitted to trading on the regulated market of Euronext Dublin from May 17, 2021 and are rated BBB by S&P. As well as on other electronic trading platforms, 5, 10 and 20 year bonds will be available for trading on the MTS BondVision and MTS BondsPro platforms, which are now part of the Euronext suite of products following the acquisition of the Borsa Italiana group. The obligations will be settled by VP Securities, the Danish CSD of Euronext.
The main characteristics of the problem are as follows:
- Tranche 1: 5-year bond worth € 600 million (due May 17, 2026), with an annual coupon of 0.125% (ISIN: DK0030485271)
- Tranche 2: 10-year bond valued at 600 million euros (due May 17, 2031), with an annual coupon of 0.750% (ISIN: DK0030486402)
- Tranche 3: 20-year bond valued at 600 million euros (due May 17, 2041), with an annual coupon of 1.500% (ISIN: DK0030486592)
The final order book reached an amount of c. 5 billion euros and has been oversubscribed more than 2.7 times. The success of this transaction illustrates the strong confidence of investors in Euronext’s growth ambitions, strategy and strong credit profile.
The offer will allow Euronext to extend its maturity profile and further diversify its investor base in debt.
The net proceeds from the issue will be used to partially refinance the acquisition of the Borsa Italiana group, completed on April 29, 2021 for a final amount of € 4,444 million.
Bank of America, Credit Agricole CIB, HSBC and JP Morgan acted as Joint Global Coordinators, and ABN AMRO, BNPP, IMI Intesa, Mediobanca, SGCIB, UniCredit and ING Securities acted as joint active bookkeepers on the transaction.
Stéphane Boujnah, Chief Executive Officer and Chairman of the Management Board of Euronext said:
“We are delighted with the strong support seen today on this €1.8 bond issue. This demonstrates the confidence of our investors in our strategic acquisition of the Borsa Italiana Group that creates the main pan-European market infrastructure. This bond, which is to be listed in Dublin, was traded on the MTS sites and settled through VP Securities in Denmark is proof of concept of Euronext federal model, which aims to strengthen the spine of the Capital Markets Union in Europe”
Euronext is the main pan-European market infrastructure, connecting local economies to global financial markets, in order to accelerate innovation and sustainable growth. It operates regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal. With nearly 1,900 listed issuers with a market capitalization worth € 5.6 trillion at the end of March 2021, it has an unmatched first-class franchise and a strong and diverse national and international client base. Euronext operates regulated and transparent equity and derivative markets, one of the largest electronic fixed income trading markets in Europe and the largest trading center for debt securities and funds in the world. Its total product offering includes stocks, currencies, exchange traded funds, warrants and certificates, bonds, derivatives, commodities and indices. Euronext also leverages its expertise in market management by providing technologies and managed services to third parties. In addition to its main regulated market, it also operates a number of junior markets, which simplifies access to listing for SMEs. Euronext provides custody and settlement services through central securities depositories in Denmark, Italy, Norway and Portugal.
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This press release is for informational purposes only: it does not constitute a recommendation to engage in any investing activities and is provided “as is” without representation or warranty of any kind. Although all reasonable precautions have been taken to ensure the accuracy of the content, Euronext does not guarantee its accuracy or completeness. Euronext cannot be held responsible for any loss or damage of any nature whatsoever resulting from the use, reliance or action on the information provided. No information presented or mentioned in this publication can be regarded as creating a right or an obligation. The creation of rights and obligations concerning financial products traded on the stock exchanges operated by Euronext subsidiaries will depend solely on the applicable rules of the market operator. All property rights and interests in or related to this publication are vested in Euronext. This press release is only valid from that date. Euronext refers to Euronext NV and its subsidiaries. Information on Euronext trademarks and intellectual property rights is available at www.euronext.com/terms-use.
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