Euronext successfully launches a €1.8 billion bond issue, listed on Euronext Dublin

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Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo and Paris – 07 May 2021 – Euronext, the leading pan-European market infrastructure, has successfully priced a three-tranche senior bond offering representing a total amount of €1.8bn.

The bonds will be admitted to trading on the regulated market of Euronext Dublin as of 17 May 2021 and are rated BBB by S&P. As well as on other electronic trading platforms, the 5, 10 and 20-year bonds will be available for trading on the MTS BondVision and MTS BondsPro venues, which are now part of the Euronext product suite following the acquisition of Borsa Italiana Group. The bonds will be settled through VP Securities, Euronext’s Danish CSD.

The main features of the issue are as follows:

  • Tranche 1: 5-year bond worth €600 million (maturing on 17 May 2026), with an annual coupon of 0.125% (ISIN: DK0030485271)
  • Tranche 2: 10-year bond worth €600 million (maturing on 17 May 2031), with an annual coupon of 0.750% (ISIN: DK0030486402)
  • Tranche 3: 20-year bond worth €600 million (maturing on 17 May 2041), with an annual coupon of 1.500% (ISIN: DK0030486592)

The final order book reached an amount of c. €5 billion and was more than 2.7 times oversubscribed. The success of this transaction illustrates investors' strong confidence in Euronext’s growth ambitions, strategy and solid credit profile.

The offering will allow Euronext to extend its maturity profile and further diversify its debt investor base.

The net proceeds of the issue will be used to partially refinance the acquisition of the Borsa Italiana Group, completed on 29 April 2021 for a final consideration of €4,444 million.

Bank of America, Credit Agricole CIB, HSBC and JP Morgan acted as Joint Global Coordinators, and ABN AMRO, BNPP, IMI Intesa, Mediobanca, SGCIB, UniCredit and ING Securities acted as Joint active bookrunners on the transaction.

Stéphane Boujnah, Chief Executive Officer and Chairman of the Managing Board of Euronext said:

"We are delighted by the strong support seen today on this €1.8 billion bond issue. This demonstrates the confidence of our investors in our strategic acquisition of the Borsa Italiana Group that creates the leading pan-European market infrastructure. This bond, to be listed in Dublin, traded on MTS venues and settled through VP Securities, in Denmark, is the proof of concept of the Euronext federal model, which aims to strengthen the backbone of the Capital Markets Union in Europe"

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About Euronext 
Euronext is the leading pan-European market infrastructure, connecting local economies to global capital markets, to accelerate innovation and sustainable growth. It operates regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal. With close to 1,900 listed issuers worth €5.6 trillion in market capitalisation as of end March 2021, it has an unmatched blue chip franchise and a strong diverse domestic and international client base. Euronext operates regulated and transparent equity and derivatives markets, one of Europe’s leading electronic fixed income trading markets and is the largest centre for debt and funds listings in the world. Its total product offering includes Equities, FX, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. Euronext also leverages its expertise in running markets by providing technology and managed services to third parties. In addition to its main regulated market, it also operates a number of junior markets, simplifying access to listing for SMEs. Euronext provides custody and settlement services through central securities depositories in Denmark, Italy, Norway and Portugal. 
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