Groupe SEB Continues to Strengthen Its Financial Structure With a €150M Financing Over 12 Years

Apr 15 2024 17:00 BST

ECULLY, France--(BUSINESS WIRE)--Apr. 15, 2024-- Regulatory News:

Groupe SEB (Paris:SK) is pleased to announce the success of a €150m, 12-year private placement, with leading institutional investors.

The placement comes without financial covenants and is SEB's first with a maturity of more than 10 years, enabling it to extend the average maturity of its debt.

It reflects investors’ confidence in Groupe SEB's long-term strategy and prospects, following the oversubscribed Schuldschein financing of €650m in December 2023 and a €495m Club Deal arranged with its relationship banks in March 2024.

This institutional private placement further diversifies Groupe SEB's sources of financing.

The issuance was made on favorable terms, with a fixed interest rate of 5.0%. Meanwhile, Groupe SEB is actively managing its interest-rate risk to optimize its financial expenses by benefiting from falling interest rates while being hedged against any potential rises.

The proceeds of this issuance, settled on 3 April 2024, will be used to cover Groupe SEB's general corporate needs and notably contributing to the repayment of the €500m bond issue maturing in May 2024.

The bonds issued are listed on Euronext Access.

Société Générale arranged the transaction.

Next key dates – 2024
April 25 \| after market closes	Q12024 sales and financial data
May 23 \| 2:30 p.m.	Annual General Meeting
July 25 \| before market opens	H1 2024 sales and results
October 24 \| after market closes	9-month 2023 sales and financial data

Find us on www.groupeseb.com

World reference in small domestic equipment and professional coffee machines, Groupe SEB operates with a unique portfolio of 35 top brands including Tefal, Seb, Rowenta, Moulinex, Krups, Lagostina, All-Clad, WMF, Emsa, Supor, marketed through multi-format retailing. Selling more than 400 million products a year, it deploys a long-term strategy focused on innovation, international development, competitiveness and client service. Present in over 150 countries, Groupe SEB generated sales of €8 billion in 2023 and has more than 31,000 employees worldwide.