Clifford Chance has advised L’Oréal on its inaugural bond issuance denominated in Swiss francs for an aggregate nominal amount of CHF 500 million.
The offering is composed of two tranches:
- a CHF 225 million 6-year fixed rate bond paying a coupon of 0.93% per annum;
- a CHF 275 million 10-year fixed rate bond paying a coupon of 1.25% per annum (together, the “Notes”).
The Notes are rated AA (stable) by S&P and Aa1 (stable) by Moody’s and will be listed on SIX Swiss Exchange. The net proceeds will be used for general corporate purposes.
The banks’ syndicate was composed of BNP Paribas, Paris, Lancy/Geneva Branch, Commerzbank and Deutsche Bank as Joint Managers.
Clifford Chance advised L’Oréal with a team comprising Cédric Burford and Auriane Bijon, partners, and Batoul Laanani, senior associate.
The L’Oréal Group was advised internally by Arnaud de Rochebrune, General Counsel M&A, Financing and Licenses, and Mélina Krouri, Associate General Counsel Banking & Finance.
