Successful Issue of a EUR 1 Billion Bond Confirming Carrefour’s Credit Quality
25 Mars 2020 - 6:50PM
Business Wire
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directly or indirectly in the United States of America, Canada,
Australia or Japan or any other jurisdiction in which offers or
sales of the securities would be prohibited by applicable
law
This press release does not constitute or form a part of an
offer of or solicitation to purchase securities in the United
States of America or to, or for the account or benefit of, U.S.
Persons (as defined in Regulation S under the US Securities Act of
1933, as amended (the “Securities Act”). The securities mentioned
herein have not been, and will not be, registered under the
Securities Act and may not be offered or sold in the United States
of America or to, or for the account or benefit of, U.S. Persons,
except pursuant to an exemption from, or a transaction not subject
to, the registration requirements of the Securities Act. The bonds
will be offered or sold only to non-U.S. persons in offshore
transactions outside of the United States of America, in accordance
with Regulation S of the Securities Act. Carrefour does not intend
to register any portion of the proposed offering in the United
States of America and no public offering will be made in the United
States of America. The bonds may not be offered or sold or
otherwise made available to retail investors. No key information
document under PRIIPS Regulation has been and will be
prepared.
Regulatory News:
Carrefour (Paris:CA) has launched a EUR 1,000,000,000 7.7-year
senior bond (maturity: December 15th, 2027).
The order book was several times oversubscribed and has
attracted total demand of over EUR 6 billion with more than 300
investors.
The new issue will bear a 2.625% annual coupon at an issue price
of 99.471%.
The proceeds will be used for general corporate purposes of the
Group.
After the confirmation of the Group’s credit ratings by Moody’s
(Baa1 with negative outlook) and Standard & Poor’s (BBB with
stable outlook), the success of this transaction demonstrates
investor confidence in Carrefour’s credit quality.
Carrefour has a solid balance sheet. This constitutes an
important asset in the context of the fast-changing food retail
sector and amid the COVID-19 pandemic situation.
In addition, the Group has two credit facilities totaling EUR
3.9 billion, which are undrawn to date.
About the Carrefour Group
With a multi-format network of more than 12,000 stores in over
30 countries, Carrefour Group is one of the world's leading food
retailers. Carrefour recorded gross sales of €80.7 billion in 2019.
The Group has more than 320,000 employees who contribute to making
Carrefour the world leader in the food transition for all, offering
quality food every day, accessible everywhere and at a reasonable
price.
DISCLAIMER
Prohibition of sales to European Economic Area (EEA) and
United Kingdom ("UK") retail investors
No action has been undertaken or will be undertaken to make
available any bonds to any retail investor in the EEA and in the
UK. For the purposes of this provision:
a. the expression "retail investor" means a person who is one
(or more) of the following:
- a retail client as defined in point (11) of Article 4(1) of
Directive 2014/65/EU (as amended, "MiFID II"); or
- a customer within the meaning of Directive 2016/97/EU (as
amended or superseded the "Insurance Mediation Directive") ,
where that customer would not qualify as a professional client as
defined in point (10) of Article 4(1) of MiFID II; and
b. the expression “offer" includes the communication in
any form and by any means of sufficient information on the terms of
the offer and the bonds to be offered so as to enable an investor
to decide to purchase or subscribe the bonds.
Consequently no key information document required by Regulation
(EU) No 1286/2014 (as amended, the "PRIIPs Regulation") for
offering or selling the bonds or otherwise making them available to
retail investors (as defined above) in the EEA or the UK has been
prepared and therefore offering or selling the bonds or otherwise
making them available to any retail investor in the EEA or in the
UK may be unlawful under the PRIIPS Regulation.
France
The bonds have only been offered or sold and will only be
offered or sold, directly or indirectly, in France to qualified
investors (investisseurs qualifiés) as defined in Article L.411-2
1° of the French Code monétaire et financier, and the Base
Prospectus, any Final Terms or any other offering material relating
to the bonds have only been distributed or caused to be distributed
and will only be distributed or caused to be distributed in France
to such qualified investors.
United Kingdom
This press release is addressed and directed only at (i) persons
located outside the United Kingdom or (ii) investment professionals
as defined in Article 19(5) of the Financial Services and Markets
Act 2000 (Financial Promotion) Order 2005 (the “Order”) or
(iii) high net worth companies, and other people designated by
Article 49(2) (a) to (d) of the Order or (iv) persons to whom an
invitation or inducement to engage in investment activity (within
the meaning of section 21 of the Financial Services and Markets Act
2000) may otherwise lawfully be communicated or cause to be
communicated (the persons mentioned in paragraphs (i), (ii), (iii)
and (iv) all deemed relevant persons (“Relevant Persons”)).
The bonds are intended only for Relevant Persons and any
invitation, offer of contract related to the subscription, tender,
or acquisition of the bonds may be addressed and/or concluded only
with Relevant Persons. All persons other than Relevant Persons must
abstain from using or relying on this document and all information
contained therein.
This press release is not a prospectus which has been approved
by the Financial Conduct Authority or any other United Kingdom
regulatory authority for the purposes of Section 85 of the
Financial Services and Markets Act 2000.
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version on businesswire.com: https://www.businesswire.com/news/home/20200325005630/en/
Investor Relations Selma Bekhechi, Anthony Guglielmo and
Antoine Parison Tel : +33 (0)1 64 50 79 81
Group Communication Tel : +33 (0)1 58 47 88 80
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