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Fashion Network
20-07-2025
- Business
- Fashion Network
El Corte Inglés issues 500 million euros in bonds with a demand that exceeds the supply almost ninefold
El Corte Inglés has closed the issuance of 500 million euro eight-year bonds, with a demand that has exceeded the offer by approximately nine times, and which has had the support of both the national and international investment community, according to the company in a statement. Specifically, this issue, the second issued since obtaining the "investment grade" and aimed at qualified investors, has been made for eight years and matures in July 2033. The bonds will accrue an annual coupon of 3.5%. The distribution group chaired by Marta Álvarez issued these bonds under the issuer's EMTN Program, dated July 15, and is expected to obtain a "BBB-/BBB-" rating from S&P/Fitch. The issuance will enable the company to diversify its sources of financing and the proceeds will be used for general corporate needs. The operation has been articulated with the support of seven underwriters: Barclays, BBVA, BofA Securities, CaixaBank, Citi, Goldman Sachs and J.P. Morgan, in addition to nine other participating entities: Banco Sabadell, BNP Paribas, Crédit Agricole, Deutsche Bank, Intesa SanPaolo, Kutxabank, Santander, Société Générale and Unicaja, while Linklaters and Allen & Overy Shearman have participated as lawyers in the transaction. The issue comes a year after El Corte Inglés completed another senior bond placement for a further 500 million euros, which received strong demand, exceeding the offer by approximately seven times, and which was supported by both the national and international investment community. The transaction, also aimed at qualified investors, was for a seven-year term maturing in June 2031 and was the first issue with an investment grade corporate rating by the credit agencies Standard & Poor's and Fitch.
Fashion Network
17-07-2025
- Business
- Fashion Network
El Corte Inglés issues 500 million euros in bonds with a demand that exceeds the supply almost ninefold
El Corte Inglés has closed the issuance of 500 million euro eight-year bonds, with a demand that has exceeded the offer by approximately nine times, and which has had the support of both the national and international investment community, according to the company in a statement. Specifically, this issue, the second issued since obtaining the "investment grade" and aimed at qualified investors, has been made for eight years and matures in July 2033. The bonds will accrue an annual coupon of 3.5%. The distribution group chaired by Marta Álvarez issued these bonds under the issuer's EMTN Program, dated July 15, and is expected to obtain a "BBB-/BBB-" rating from S&P/Fitch. The issuance will enable the company to diversify its sources of financing and the proceeds will be used for general corporate needs. The operation has been articulated with the support of seven underwriters: Barclays, BBVA, BofA Securities, CaixaBank, Citi, Goldman Sachs and J.P. Morgan, in addition to nine other participating entities: Banco Sabadell, BNP Paribas, Crédit Agricole, Deutsche Bank, Intesa SanPaolo, Kutxabank, Santander, Société Générale and Unicaja, while Linklaters and Allen & Overy Shearman have participated as lawyers in the transaction. The issue comes a year after El Corte Inglés completed another senior bond placement for a further 500 million euros, which received strong demand, exceeding the offer by approximately seven times, and which was supported by both the national and international investment community. The transaction, also aimed at qualified investors, was for a seven-year term maturing in June 2031 and was the first issue with an investment grade corporate rating by the credit agencies Standard & Poor's and Fitch. This article is an automatic translation. Click here to read the original article.
Fashion Network
17-07-2025
- Business
- Fashion Network
El Corte Inglés issues 500 million euros in bonds with a demand that exceeds the supply almost ninefold
El Corte Inglés has closed the issuance of 500 million euro eight-year bonds, with a demand that has exceeded the offer by approximately nine times, and which has had the support of both the national and international investment community, according to the company in a statement. Specifically, this issue, the second issued since obtaining the "investment grade" and aimed at qualified investors, has been made for eight years and matures in July 2033. The bonds will accrue an annual coupon of 3.5%. The distribution group chaired by Marta Álvarez issued these bonds under the issuer's EMTN Program, dated July 15, and is expected to obtain a "BBB-/BBB-" rating from S&P/Fitch. The issuance will enable the company to diversify its sources of financing and the proceeds will be used for general corporate needs. The operation has been articulated with the support of seven underwriters: Barclays, BBVA, BofA Securities, CaixaBank, Citi, Goldman Sachs and J.P. Morgan, in addition to nine other participating entities: Banco Sabadell, BNP Paribas, Crédit Agricole, Deutsche Bank, Intesa SanPaolo, Kutxabank, Santander, Société Générale and Unicaja, while Linklaters and Allen & Overy Shearman have participated as lawyers in the transaction. The issue comes a year after El Corte Inglés completed another senior bond placement for a further 500 million euros, which received strong demand, exceeding the offer by approximately seven times, and which was supported by both the national and international investment community. The transaction, also aimed at qualified investors, was for a seven-year term maturing in June 2031 and was the first issue with an investment grade corporate rating by the credit agencies Standard & Poor's and Fitch.
Fashion Network
17-07-2025
- Business
- Fashion Network
El Corte Inglés issues 500 million euros in bonds with a demand that exceeds the supply almost ninefold
El Corte Inglés has closed the issuance of 500 million euro eight-year bonds, with a demand that has exceeded the offer by approximately nine times, and which has had the support of both the national and international investment community, according to the company in a statement. Specifically, this issue, the second issued since obtaining the "investment grade" and aimed at qualified investors, has been made for eight years and matures in July 2033. The bonds will accrue an annual coupon of 3.5%. The distribution group chaired by Marta Álvarez issued these bonds under the issuer's EMTN Program, dated July 15, and is expected to obtain a "BBB-/BBB-" rating from S&P/Fitch. The issuance will enable the company to diversify its sources of financing and the proceeds will be used for general corporate needs. The operation has been articulated with the support of seven underwriters: Barclays, BBVA, BofA Securities, CaixaBank, Citi, Goldman Sachs and J.P. Morgan, in addition to nine other participating entities: Banco Sabadell, BNP Paribas, Crédit Agricole, Deutsche Bank, Intesa SanPaolo, Kutxabank, Santander, Société Générale and Unicaja, while Linklaters and Allen & Overy Shearman have participated as lawyers in the transaction. The issue comes a year after El Corte Inglés completed another senior bond placement for a further 500 million euros, which received strong demand, exceeding the offer by approximately seven times, and which was supported by both the national and international investment community. The transaction, also aimed at qualified investors, was for a seven-year term maturing in June 2031 and was the first issue with an investment grade corporate rating by the credit agencies Standard & Poor's and Fitch.
