The Euronext European super stock exchange he threw an offer of senior bonds in trand tranches for a total of 1.8 billion euros. The net proceeds from the issue will be used to partially refinance the acquisition of the Borsa Italiana group, completed on April 29 for a final consideration of 4.444 billion. The bond will be admitted to trading on the Euronext Dublin regulated market starting May 17, 2021 and has a “BBB” rating assigned by S&P. In addition to other electronic trading platforms, the 5, 10 and 20 year bonds will be tradable on Mts BondVision and Mts BondsPro, now part of the Euronext products following the acquisition of Borsa Italiana.
The bonds will be settled through Vp Securities, Euronext’s Danish centralized deposit system (CSD). In particular, the first tranche of the issue is represented by a 5-year bond worth 600 million euros (deadline May 17, 2026), with annual coupon of 0.125%. The second It’s a bond ten-year of 600 million (deadline May 17, 2031), with annual coupon of 0.750% and the third is a 600 million twenty years (deadline May 17, 2041), with a 1,500% annual coupon. Orders are reached approximately 5 billion, equal to over 2.7 times the amount subscribed.
“The success of the operation demonstrates the strong confidence of investors in Euronext’s growth ambitions, its strategy and its solid credit profile”, reads a note, which specifies that the issue will allow extend maturities and further diversify the debt investor base. The success of the issue “demonstrates investor confidence in the strategic acquisition of Borsa Italiana, which gives life to the main pan-European market infrastructure. This bond, which will be listed in Dublin, traded on MTS platforms and regulated through VP Securities, in Denmark, it is proof of the concept of Euronext’s federal model, which aims to strengthen the backbone of the Capital Markets Union in Europe “, said the Ceo on Euronext Stephane Boujnah.