Willkie Advises Schneider Electric on Refinancing of Bonds

July 20, 2010

Global energy management company Schneider Electric launches two bond issues with respect to its Euro Medium Term Note (EMTN) program for a total amount of €800 million.

On July 9, Willkie client global energy management company Schneider Electric announced the launch of two bond issues with respect to its Euro Medium Term Note (EMTN) program for a total amount of €800 million, and the partial buy back of the July 2013 maturing bonds. These transactions are intended to refinance part of the company’s debt, particularly the €900 million in bonds maturing in August 2010, and to extend the average maturity of its debt. The partial buy-back will enable Schneider to reduce financing costs from 2011 onwards. The bond issues were oversubscribed with total orders amounting to €3.8 billion. The matter was handled by partners Laurent Faugérolas and Jon Lyman and associates Xavier Doumen and Jonathan Bay.