Rueil-Malmaison, France, August 3, 2005 – Schneider Electric benefited from favorable market conditions to launch a two tranches bond issue of 5 and 12 years maturity, in order to finance its acquisitions while optimizing the maturity length of its debt. This transaction was led by Citigroup, Natexis Banques Populaires, Royal Bank of Scotland and Société Générale CIB.Although launched in an usually quiet period, the bond issue was very much welcomed by investors.
It was oversubscribed two times in a little more than one day and therefore priced at the tightest end of the indicative spread ranges, i.e mid-swap +28bp for the 5-year note and mid-swap + 51bp for the 12-year note compared to ranges of respectively +28-30bp and +low 50’s.The very positive response from the market to this bond issue, rated “A” by Standard & Poor’s, shows Schneider Electric sound fundamentals and financial strength.Schneider Electric: Give the best of the New Electric World to everyone, everywhere, at any time Schneider Electric is the world’s Power & Control leader.
Through its world-class brands, Merlin Gerin, Square D and Telemecanique, Schneider Electric manufactures and markets a comprehensive range of products and services for the residential, buildings, industry, energy and infrastructure markets. Schneider Electric has 85,000 employees worldwide, operations in 130 countries and recorded sales of €10.4 billion in 2004 through the 13,000 sales outlets of its distributors.
Visit Schneider Electric at www.schneider-electric.com .
