06/04/19
Announcement of the execution of a €105,000,000 new bond issue
Manitou today finalized a Euro PP new private bond issue of €105,000,000 in line with previous issues.
The bonds are issued in 3 maturities of 6, 7 and mainly 8 years. The settlement is scheduled for June 13, 2019. This largely oversubscribed transaction has proved very successful with first-rank European investors.
This Private Placement, agreed on favourable terms for Manitou, allows the group to extend its debt maturity and to carry on its strategy of financing diversification. This transaction shows the lenders’ confidence in Manitou group's strategy and provides the group with a long-term financing basis that meets its development ambitions.
The proceeds of these issues will be used to refinance the existing bond debt in the future and will mainly be allocated to the company's development.
This financing operation, carried out with first-rank investors, provides Manitou Group with additional financial resources to achieve its future investments in line with its strategic ambitions. The success of this operation shows the confidence of investors in our group’s strong financial structure and in its outlook.
Michel Denis, President & CEO
The transaction was arranged by Société Générale and LCL as Mandated Lead Arrangers, both advised by White & Case. Manitou BF has been assisted on this issue by Nabarro & Hinge and Cleary Gottlieb.