"This press release is not an offer of securities in France, in the United States or any other jurisdiction. The bonds may not be offered or sold in the United States or to, or for the account or benefit of U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended) unless they are registered or exempt from registration under the U.S. Securities Act of 1933, as amended. Nexans does not intend to register any portion of the proposed offering in the United States or to conduct an offering of securities in the United States".
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Successful placement of Nexans inaugural bond issue
Paris, April 25, 2007 – Nexans, the worldwide leader in the cable industry, announces today that it has successfully placed its inaugural bond issue for an amount of €350 million and a tenor of 10 years.
The issue was significantly oversubscribed with an order book totalling €4.3bn and 240 investors. This strong interest allowed for a tightening of the initial spread guidance from 145 bp to 140 bp over the 10-year mid-swap rate.
The issue was allocated to a wide range of European investors of which 35% in France and 34% in the United Kingdom.
Nexans’ objectives were to refinance existing debt, diversify its sources of funding, and lengthen its average debt maturity.
With energy as the basis of its development, Nexans, the worldwide leader in the cable industry, offers an extensive range of cables and cabling systems. The Group is a global player in the infrastructure, industry and building markets. Nexans addresses a series of market segments from energy, transport and telecom networks to shipbuilding, oil and gas, nuclear, automotive, electronics, aeronautics, handling and automation.
With an industrial presence in more than 30 countries and commercial activities worldwide, Nexans employs 21,000 people and had sales in 2006 of 7.5 billion euros. Nexans is listed on the Paris stock exchange, compartment A of the Eurolist of Euronext. More information on www.nexans.com
