Carmila €1.2 billion bond issues

Overview:

• French retail company Carmila successfully offered its inaugural bond issue of €600 million to the Frankfurt exchange.
• The coupon is due in September 2023 and has a maturity of 2.375%.
• The issue was followed by a second issue of €600 million in March 2016, also of 2.375%, maturing in September 2023. 
• The initial transaction was three times oversubscribed, mainly from investors in France, UK and Germany, which led to the second offering. 
• Natixis, BNP Paribas, HSBC Bank LC, Crédit Agricole CIB, Societe Generale, CM-CIC Securities, ING Bank and the Royal Bank of Scotland acted as arrangers. 

John Crabb - Journalist