GDF SUEZ successfully placed a 450 million Swiss Franc issue (around 370 million Euros) in two tranches: a 8 years tranche of 275 million with a 1.125% coupon and a 12 years tranche of 175 million with a coupon of 1.625%.
By tapping the Swiss market, and after swap into Euros, the Group reached funding conditions fairly more attractive than it would have reached by borrowing forthright on the Euro markets. Moreover, this transaction allows the Group to further diversify its funding sources on durations which perfectly fit with its debt maturity profile.
This financing has been swapped into Euro floating rate at an average spot level of 1.16%. It reflects the strategy carried on by the Group for the optimization of its financial charges.
LNG World News Staff, September 14, 2012
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Source: http://www.lngworldnews.com/france-gdf-suez-launches-bond-issue/
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