CLICHY (dpa-AFX) - L'Oreal S.A. (OR.PA), the French cosmetics major, Thursday announced that it has priced its €2 billion bond offering having three tranches.
The three tranches of the bond offering are composed of a €850 million 2-year floating rate bond paying a coupon of Euribor 3M + 27 bps p.a., a €500 million 3-year fixed rate bond paying a coupon of 3.75 percent p.a. and a €650 million 7-year fixed rate bond paying a coupon of 4 percent p.a.
The net proceeds of the bond will be used for general corporate purposes.
Further, the cosmetic company expects the bonds to be rated AA (Stable) by S&P and Aa1 (Stable) by Moody's, and will be admitted to trade on Euronext Paris from September 30, which is the settlement date.
On Wednesday, shares closed at €380.50, down 2.31% on the Paris Stock Exchange.
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