Safran closes €566m-equivalent US private placement

Safran engine from corp media gallery 230x134
By Silas Brown
22 Jun 2020

French aerospace and defence company Safran has closed a large US private placement, according to market sources, of €566m-equivalent in euros and dollars.

Bank of America, Deutsche Bank, MUFG and Santander arranged the transaction, which had an initial target of €400m. A 10 year $181m bullet was closed at 240bp over US Treasuries, while a 12 year $133m priced at US Treasuries plus 260bp. There was a €122m 10 year deal ...

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