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Bureau Veritas SA
Capital/Financing Update • May 16, 2024
1169_iss_2024-05-16_e5fa768c-0019-4bca-8981-fe817cf57432.pdf
Capital/Financing Update
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PRESS RELEASE
Neuilly-sur-Seine, France – May 16, 2024
Bureau Veritas successfully completes an inaugural A3 rated (by Moody's) bond issuance of EUR 500 million with a maturity in May 2036
Bureau Veritas, a world leader in testing, inspection and certification (TIC) services, announces the successful placement of a EUR 500 million A3 rated (by Moody's) new bond issue maturing in May 2036 and carrying a coupon of 3.5%.
The final orderbook amounted to more than EUR 1.5 billion, which represents 3 times the targeted amount. Such a high level of oversubscription enabled Bureau Veritas to price with a final spread much below initial price indications. This underlines the strong investors' confidence in Bureau Veritas business model as well as the quality of its credit profile, the latter having been confirmed by the A3 rating (with a Stable outlook) recently assigned by Moody's.
This issuance allows Bureau Veritas to seize attractive market conditions for general corporate purposes including the refinancing of its bond maturing in January 2025, thereby lengthening the average maturity of its debt.
Admission of the bonds to trading on Euronext Paris will be effective on the settlement date, which is expected to take place on May 22, 2024.
BNP Paribas and HSBC acted as Global Coordinators and Active Joint Bookrunners. CIC, ING, Mizuho, Natixis and Santander acted as Active Joint Bookrunners.
About Bureau Veritas
Bureau Veritas is a world leader in inspection, certification, and laboratory testing services with a powerful purpose: to shape a world of trust by ensuring responsible progress.
With a vision to be the preferred partner for customers' excellence and sustainability, the company innovates to help them navigate change.
Created in 1828, Bureau Veritas' 83,000 employees deliver services in 140 countries. The company's technical experts support customers to address challenges in quality, health and safety, environmental protection, and sustainability.
Bureau Veritas is listed on Euronext Paris and belongs to the CAC 40 ESG, CAC Next 20, SBF 120 indices and is part of the CAC SBT 1.5° index. Compartment A, ISIN code FR 0006174348, stock symbol: BVI.
For more information, visit www.bureauveritas.com, and follow us on X/Twitter (@bureauveritas) and LinkedIn.
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ANALYST/INVESTOR CONTACTS MEDIA CONTACTS
Laurent Brunelle Anette Rey +33 (0)1 55 24 76 09 +33 (0) 6 69 79 84 88 [email protected] [email protected]
Colin Verbrugghe +33 (0)1 55 24 77 80 [email protected]
Karine Ansart +33 (0)1 55 24 76 19 [email protected]