Latest news with #MartaÁlvarez
Fashion Network
20-07-2025
- Business
- Fashion Network
El Corte Inglés issues 500 million euros in bonds with a demand that exceeds the supply almost ninefold
El Corte Inglés has closed the issuance of 500 million euro eight-year bonds, with a demand that has exceeded the offer by approximately nine times, and which has had the support of both the national and international investment community, according to the company in a statement. Specifically, this issue, the second issued since obtaining the "investment grade" and aimed at qualified investors, has been made for eight years and matures in July 2033. The bonds will accrue an annual coupon of 3.5%. The distribution group chaired by Marta Álvarez issued these bonds under the issuer's EMTN Program, dated July 15, and is expected to obtain a "BBB-/BBB-" rating from S&P/Fitch. The issuance will enable the company to diversify its sources of financing and the proceeds will be used for general corporate needs. The operation has been articulated with the support of seven underwriters: Barclays, BBVA, BofA Securities, CaixaBank, Citi, Goldman Sachs and J.P. Morgan, in addition to nine other participating entities: Banco Sabadell, BNP Paribas, Crédit Agricole, Deutsche Bank, Intesa SanPaolo, Kutxabank, Santander, Société Générale and Unicaja, while Linklaters and Allen & Overy Shearman have participated as lawyers in the transaction. The issue comes a year after El Corte Inglés completed another senior bond placement for a further 500 million euros, which received strong demand, exceeding the offer by approximately seven times, and which was supported by both the national and international investment community. The transaction, also aimed at qualified investors, was for a seven-year term maturing in June 2031 and was the first issue with an investment grade corporate rating by the credit agencies Standard & Poor's and Fitch.
Fashion United
18-07-2025
- Business
- Fashion United
El Corte Inglés completes 500 million euro debt issuance
Madrid – El Corte Inglés, the Spanish department store group, has successfully completed a debt issuance totalling 500 million euros. The placement was executed through a bond issue with an interest rate of 3.5 percent and a maturity date in July 2033. According to details provided by the Spanish company's management, the transaction received support from seven prominent placing entities, encompassing both Spanish and international financial institutions. These included Barclays, BBVA, BofA Securities, Caixa Bank, Citi, Goldman Sachs, and J.P. Morgan. An additional nine entities also participated in this financial endeavor: Banco Sabadell, BNP Paribas, Crédit Agricole, Deutsche Bank, Intesa SanPaolo, Kutxabank, Banco Santander, Société Générale, and Unicaja. Legal advisory services for the operation were provided by Linklaters and Allen&Overy Shearman. Aimed at qualified investors, this marks the second debt issuance undertaken by the company, chaired by Marta Álvarez, since it received an 'Investment Grade' credit rating from the debt rating agency S&P in June 2024. This enhanced credit status appears to have significantly contributed to the strong demand for the bonds, with subscriptions exceeding the available supply by approximately nine times, as emphasised by El Corte Inglés management. The 500 million euro bonds will yield an annual interest of 3.5 percent for their holders and have been issued with an eight-year maturity, set for July 2033. Regarding the strategic purpose of this debt placement, El Corte Inglés stated that the issuance will enable the company to diversify its financing sources. The new funds, now added to its balance sheets and accounts, are designated for 'general corporate needs,' without specific mention of any particular project or strategic initiative for their deployment. This 500 million euro bond issue follows a reduction in the company's net financial debt by 263 million euros during the 2024 financial year. In summary El Corte Inglés completed a debt issuance of 500 million euros, with demand exceeding supply by approximately nine times. The bond issue has an interest rate of 3.5 percent and matures in July 2033, backed by domestic and international investors. The funds will be used for general corporate needs, and have been raised after a reduction in net financial debt in 2024 of -263 million euros. This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@
Fashion Network
17-07-2025
- Business
- Fashion Network
El Corte Inglés issues 500 million euros in bonds with a demand that exceeds the supply almost ninefold
El Corte Inglés has closed the issuance of 500 million euro eight-year bonds, with a demand that has exceeded the offer by approximately nine times, and which has had the support of both the national and international investment community, according to the company in a statement. Specifically, this issue, the second issued since obtaining the "investment grade" and aimed at qualified investors, has been made for eight years and matures in July 2033. The bonds will accrue an annual coupon of 3.5%. The distribution group chaired by Marta Álvarez issued these bonds under the issuer's EMTN Program, dated July 15, and is expected to obtain a "BBB-/BBB-" rating from S&P/Fitch. The issuance will enable the company to diversify its sources of financing and the proceeds will be used for general corporate needs. The operation has been articulated with the support of seven underwriters: Barclays, BBVA, BofA Securities, CaixaBank, Citi, Goldman Sachs and J.P. Morgan, in addition to nine other participating entities: Banco Sabadell, BNP Paribas, Crédit Agricole, Deutsche Bank, Intesa SanPaolo, Kutxabank, Santander, Société Générale and Unicaja, while Linklaters and Allen & Overy Shearman have participated as lawyers in the transaction. The issue comes a year after El Corte Inglés completed another senior bond placement for a further 500 million euros, which received strong demand, exceeding the offer by approximately seven times, and which was supported by both the national and international investment community. The transaction, also aimed at qualified investors, was for a seven-year term maturing in June 2031 and was the first issue with an investment grade corporate rating by the credit agencies Standard & Poor's and Fitch. This article is an automatic translation. Click here to read the original article.
Fashion Network
17-07-2025
- Business
- Fashion Network
El Corte Inglés issues 500 million euros in bonds with a demand that exceeds the supply almost ninefold
El Corte Inglés has closed the issuance of 500 million euro eight-year bonds, with a demand that has exceeded the offer by approximately nine times, and which has had the support of both the national and international investment community, according to the company in a statement. Specifically, this issue, the second issued since obtaining the "investment grade" and aimed at qualified investors, has been made for eight years and matures in July 2033. The bonds will accrue an annual coupon of 3.5%. The distribution group chaired by Marta Álvarez issued these bonds under the issuer's EMTN Program, dated July 15, and is expected to obtain a "BBB-/BBB-" rating from S&P/Fitch. The issuance will enable the company to diversify its sources of financing and the proceeds will be used for general corporate needs. The operation has been articulated with the support of seven underwriters: Barclays, BBVA, BofA Securities, CaixaBank, Citi, Goldman Sachs and J.P. Morgan, in addition to nine other participating entities: Banco Sabadell, BNP Paribas, Crédit Agricole, Deutsche Bank, Intesa SanPaolo, Kutxabank, Santander, Société Générale and Unicaja, while Linklaters and Allen & Overy Shearman have participated as lawyers in the transaction. The issue comes a year after El Corte Inglés completed another senior bond placement for a further 500 million euros, which received strong demand, exceeding the offer by approximately seven times, and which was supported by both the national and international investment community. The transaction, also aimed at qualified investors, was for a seven-year term maturing in June 2031 and was the first issue with an investment grade corporate rating by the credit agencies Standard & Poor's and Fitch.
Fashion Network
17-07-2025
- Business
- Fashion Network
El Corte Inglés issues 500 million euros in bonds with a demand that exceeds the supply almost ninefold
El Corte Inglés has closed the issuance of 500 million euro eight-year bonds, with a demand that has exceeded the offer by approximately nine times, and which has had the support of both the national and international investment community, according to the company in a statement. Specifically, this issue, the second issued since obtaining the "investment grade" and aimed at qualified investors, has been made for eight years and matures in July 2033. The bonds will accrue an annual coupon of 3.5%. The distribution group chaired by Marta Álvarez issued these bonds under the issuer's EMTN Program, dated July 15, and is expected to obtain a "BBB-/BBB-" rating from S&P/Fitch. The issuance will enable the company to diversify its sources of financing and the proceeds will be used for general corporate needs. The operation has been articulated with the support of seven underwriters: Barclays, BBVA, BofA Securities, CaixaBank, Citi, Goldman Sachs and J.P. Morgan, in addition to nine other participating entities: Banco Sabadell, BNP Paribas, Crédit Agricole, Deutsche Bank, Intesa SanPaolo, Kutxabank, Santander, Société Générale and Unicaja, while Linklaters and Allen & Overy Shearman have participated as lawyers in the transaction. The issue comes a year after El Corte Inglés completed another senior bond placement for a further 500 million euros, which received strong demand, exceeding the offer by approximately seven times, and which was supported by both the national and international investment community. The transaction, also aimed at qualified investors, was for a seven-year term maturing in June 2031 and was the first issue with an investment grade corporate rating by the credit agencies Standard & Poor's and Fitch.
