Unrated Gemalto’s €400m debut blows out

By Jon Hay
18 Sep 2014

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?

Continue reading this article

Try full access to GlobalCapital

Free trial