JCDecaux reinforces its liquidity and enhances its financial flexibility with the placement of €1 billion of Notes at 4.5 years and 8 years

JCDecaux SA (Euronext Paris: DEC), the number one outdoor advertising company worldwide, announced today that it has successfully placed Notes for a principal amount of 1 billion euros at 4.5 years and 8 years.
The spreads have been set at 235 and 275 basis points above the swap rates, on the 4.5 years and 8 years tranches respectively, leading to coupons of 2.000% and 2.625% respectively.
Subscribed 3 times, the notes have been placed with high quality investors.
The net proceeds of the issuance will be used for refinancing the existing debt, including the repayment of the €300m bond which matures in October 2020, and for General Corporate Purposes. This issuance will also increase the average maturity of the Group’s debt.

BNP Paribas, Crédit Agricole and HSBC are Global Coordinators on this transaction, with MUFG, Natixis and Société Générale as Active Bookrunners.

Jean-François Decaux, Chairman of the Executive Board and Co-CEO of JCDecaux, said: “Following our decision to withdraw the 2019 dividend proposal, we continue to improve our liquidity and financial flexibility in order to be in a stronger position post-crisis as it was the case in 2010. The success of this transaction, for a cumulative historical amount for our company of €1billion, demonstrates both the quality of our signature and the great confidence of investors in our ability to weather the current crisis in the best possible conditions.”