tickers: NXPRF

source: GlobeNewswire

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Nexans Successfully Completes €350 Million Bond Issuance

Paris, March 11, 2024 - Nexans, a global leader in cable systems and services, has announced the successful completion of a bond issuance totaling EUR 350 million. The bonds, with a 6-year maturity and an annual interest rate of 4.25%, garnered significant interest from institutional fixed income investors in France and abroad, leading to an oversubscription of four times. The favorable market conditions enabled Nexans to tighten a low coupon for the 6-year maturity, showcasing investor confidence in the company’s strategy and performance. The proceeds from the issuance will be used to refinance existing bonds and for general corporate purposes. Jean Christophe Juillard, Deputy CEO and CFO of Nexans, expressed confidence in the company’s financial strategy, stating that the successful issuance reflects investors’ trust in Nexans’ direction and relationships. The newly issued bonds, rated BB+ by Standard & Poor’s, have been admitted to trading on the regulated market of Euronext in Paris. This move allows Nexans to capitalize on the current market environment and optimize its capital structure. It is important to note that this press release does not constitute an offer to subscribe to the bonds in any jurisdiction where such an offer would be unlawful. The bonds have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States without proper registration or exemption. Nexans, with a strong focus on sustainability and electrification, continues to lead in the industry with a commitment to decarbonized electricity and global initiatives for a more sustainable future. The company aims to electrify the future by providing safe and accessible electricity solutions. For more information about Nexans and its operations, visit their official website. About Nexans: Nexans, a pioneer in the electrification industry for over a century, is dedicated to paving the way for a sustainable and decarbonized energy future. With a presence in 41 countries and a workforce of approximately 28,500 employees, Nexans is a key player in cable systems and services across various sectors. Nexans has been at the forefront of sustainable initiatives and is a global leader in climate action, committed to achieving Net-Zero emissions by 2050. The company’s efforts align with the Science Based Targets initiative and emphasize accessibility to energy for all communities worldwide. Nexans is listed on Euronext Paris, compartment A.