05/07/2021 Rexel SA (RXLFP) EUR100m Reg S only add-on to its 2.125% sustainability-linked green sr notes due 06/15/28 (7y). NC3 (06/15/24) (MWC B+50bp), then at 101.063, 100.531, 100. Equity claw: 3y 40% at 102.125. Ba3/BB- (stable/stable). Via CA (B&D)/HSBC/SG jt glocos/Barc/WFS jt books, BBVA, Natixis co-lead managers. List Lux. NY law. SPTs: 1. 23% reduction in Scope 3 GHG emissions intensity from the use of products sold by 2023, from a 2016 baseline; 2. 23.7% reduction in Scope 1 & 2 GHG emissions by 2023, from a 2016 baseline. S-L coupon step-up: +25bps unless both SPTs are met; the call price will also increase accordingly. Settles 05/18. Existing Reg S ISIN: XS2332306344. Temporary ISIN: XS2342579728. The original EUR300m issue priced 04/27/21. IPT: 100.25-100.50. Px talk: 100.50-100.75. Final px: EUR100m at 100.875. Priced: 2.125% at 100.875, 1.99% YTM. +248bp vs DBR 0.50% Feb 2028. Books went subject at 11:30am UKT 05/07. Reconfirms were due by 12:30pm UKT 05/07. Books over EUR500m at guidance. UOP: along with cash on hand to redeem EUR100m of the remaining EUR200m 2.125% sr notes due 06/15/25 at 101.063. Biz: global distributors of low and ultra-low voltage electrical products. HQ: Paris, France