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News Apr 10, 2017

Shearman & Sterling Advises Nexans on €200 Million Bond Issue

Shearman & Sterling has advised Nexans, a cable manufacturer, in connection with the issuance of a €200 million bond. The fixed-rated issue has a maturity of 7 years (April 5, 2024 term) and an annual coupon of 2.75% p.a. Yield to maturity is 2.75% and issue price is 100% of par value. 

This successful bond issue was allotted to approximately 160 international institutional investors. HSBC and Société Générale Corporate & Investment Banking were Global Coordinators and Joint Bookrunners, and BNP Paribas and Santander Global Corporate Banking were Joint Bookrunners. The bonds are listed on the regulated market of Euronext Paris and the settlement-delivery took place on April 5, 2017.

This bond issuance follows Nexans' first €250 million bond issue which successfully completed on May 26, 2016, on which Shearman & Sterling also advised.

The Shearman & Sterling team was led by partner Hervé Letréguilly (Paris-Capital Markets) and included counsel Séverine de La Courtie (Paris-Capital Markets); and associate Amandine Souin (Paris-Capital Markets).