by Stephen Carter
Sep 02, 2025 9:56 AM ET
Rexel SA (RXLFP) EUR400m Reg S only sr notes due 09/15/30 (5y). NC2 (09/15/27) (MWC B+50bp) (50%,25%,par). Equity claw: 2y 40%. Ba1/BB+ (stable/stable). Via BNP (B&D)/CIC/Natixis jt glocos and physical books/ING/RBC jt books, Danske, DB co-lead managers. No reg rights. List Lux. NY law. CoC at 101. Denoms: 100kx1k. Settles (T+5). ISIN: XS3146987543. IPT: 4.25% area.
Price talk: 4.00% area (+/- 12.5bp) WPIR.
Roadshow (1-on-1s) 09/02 (investor call at 10:30am UKT 09/02). Books close at 3:45pm UKT 09/02. Pricing 09/02 UK afternoon. UOP: GCP, including refinancing near term debt obligations (EUR267m CP and other short-term borrowings). Biz: a distributor of low and ultra-low voltage electrical products for professional clients in three markets: residential, nom-residential and industrial. HQ: Paris, France.
Deal Roadshow entry code: REXEL25; Evercall GIC registration link: https://evercall.co/OACC/02779.