Bureau Veritas successfully raises EUR 700 million through a 7-year and 10-year non-rated new bond issue

Bureau Veritas successfully raises EUR 700 million through a 7-year and 10-year non-rated new bond issue

Neuilly-sur-Seine, France, August 31, 2016 - Bureau Veritas has today undertaken the placement of a EUR 700 million non-rated bond issue. The new issue was successfully placed with two components: EUR 500 million with a 7-year tenor and EUR 200 million with a 10-year tenor. On the back of good market conditions and given strong demand (8 times and 2.5 times oversubscribed respectively) pricing was set at attractive levels, with coupons of respectively 1.25% and 2%.

This transaction illustrates the high confidence of investors in the Bureau Veritas model and in the quality of its credit profile.

With this issuance Bureau Veritas seizes attractive market conditions to:

- anticipate the refinancing of its EUR 500 million bond maturing in May 2017 and allow the financing of its external growth, in line with the Group 2020 strategic plan;

- lengthen and spread the maturity of its debt with notably a 10-year EUR 200 million component rarely achieved for a non-rated public bond issuance.  

Natixis and Société Général acted as Global Coordinators and Joint Lead Managers. BNP Paribas, Commerzbank, CM-CIC, HSBC, and Merrill Lynch International acted as Joint Lead Managers.