Event industry group, GL events has announced the completion of a new €130m private placement bond issue for private institutional investors.
The bond follows private placements of €50m in 2013 and €100m in 2016.
The latest issue was oversubscribed by French institutional investors and the settlement date will be 26 February 2019.
The issue consists of two tranches: a €64m seven-year tranche with a 3% annual coupon and a €66m eight-year tranche with a 3.25% annual coupon.
The new bond was arranged by CM-CIC Market Solutions and Crédit Agricole CIB, acting as joint lead managers, and advised by Allen & Overy LLP. GL events was advised by the D’hoir Beaufre Associés. The bond is expected to facilitate GL events’ developing its business in China.