Schneider Electric Prices Two-Part Bond Issue

9th Jul 2010 15:26

LONDON (Dow Jones)--French electrical equipment maker Schneider Electric SA (SU.FR) has priced its six- and 10-year bond issues, one of the banks leading the sale said Friday. Deutsche Bank AG, HSBC Holdings PLC and Societe Generale SA were running the six-year portion of the deal, with Bank of America Merrill Lynch, Credit Agricole SA, Deutsche Bank and Societe Generale managers on the 10-year tranche. Terms for the six-year bond: Amount: EUR300 million Maturity: July 20, 2016 Coupon: 2.875% Reoffer Price: 99.323 Spread: 73 basis points over midswaps Terms for the 10-year bond: Amount: EUR500 million Maturity: July 20, 2020 Coupon: 3.625% Reoffer Price: 99.120 Spread: 88 basis points over midswaps Common terms: Payment Date: July 20, 2010 Debt Ratings: A3 (Moody's) Denominations: EUR50,000 and EUR50,000 thereafter Listing: Luxembourg and Paris Interest: Annual The bonds are being sold under the borrower's Euro medium-term-note program. -By Art Patnaude, Dow Jones Newswires; +44 (0) 207 842 9259; [email protected] (END) Dow Jones Newswires July 09, 2010 10:26 ET (14:26 GMT)