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GC Asia
Unrated Gemalto’s €400m debut blows out
Gemalto, the French internet security company, launched its first bond issue today, raising €400m at attractive terms, as it finances its $890m acquisition of SafeNet.
Gemalto is unrated, but raised seven year debt at just 140bp over mid-swaps.
The acquisition of the Maryland-based data and software protection company was announced on August 8. Gemalto said it would buy the business with $440m of cash in hand and $450m (€348m) drawn from long term ...Already a subscriber? Login
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