Schneider Electric announced on September 20 the successful offering of a US$800 million bond issue in the United States with a coupon of 2.95%, due 2022. This bond issue was carried out by way of a private placement to institutional investors only (including in the United States pursuant to Rule 144A). The settlement of the bonds took place on September 27, 2012.
Schneider Electric stated, “The net proceeds of the issue will be used for general corporate purposes. This bond offering gives Schneider Electric access to the large US dollar funding sources and further extends its average debt maturity at favorable market conditions.”
The Shearman & Sterling team included partners Bertrand Sénéchal(Paris-Capital Markets) and Apostolos Gkoutzinis(London-Capital Markets) and counsel David Dixter (London-Capital Markets), assisted by associates Séverine de La Courtie (Paris-Capital Markets), Kara Major (London-Capital Markets) and Arthur Ravignon (Paris-Capital Markets). PartnersNiels Dejean (Paris-Tax) and Douglas McFadyen (New York-Tax) advised on tax aspects, assisted by associates Stéphanie Gicquel-Gimenez (Paris-Tax) and Derek Kershaw (New York-Tax).
