Suez hybrid bond attracts €6.5bn of demand
- From: Vol 11, Issue 9 (September 2010)
- Category: General
- Region: Europe
- Country: France, Netherlands and United Kingdom
- Related Companies: Agbar, BNP Paribas, GdF Suez, Goldman Sachs, HSBC, JP Morgan, Moody’s and Suez Environment
Suez Environnement’s inaugural issue of hybrid capital securities will diversify its funding base and strengthen the corporate structure. Its credit rating is still on negative outlook.
Suez Environnement priced its inaugural issue of hybrid capital securities into overwhelming demand on 14 September, drawing €6.5 billion of investor interest for a €750 million perpetual transaction.
Following a three-day roadshow taking in Paris, London, Amsterdam and Frankfurt, joint-lead managers BNP Paribas, Goldman Sachs, HSBC, JP Morgan and SG approached investors with initial spread guidance of +300bps over ...
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