Suez Environnement begins 2015 hybrid refis with tight €500m

By Jon Hay
19 Jun 2014

Suez Environnement found very strong demand for a €500m hybrid capital issue on Monday, as it became the first of the crop of companies that issued hybrids in 2010 to begin refinancing them.

The French water and waste management company’s perpetual non-call six year bond, rated Baa2, was announced as a no-grow transaction and attracted a book of €3.9bn.

The sale was preceded by a buyback of €300m of Suez’s old €750m hybrid bond.

“We benefited from the recent ...

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