Natixis, leader in the primary bond market for non-listed French corporates, co-lead manages Havas’ 5-year €350 million inaugural bond issue
After the Christian Dior, Rallye, Lagardère, Air-France/KLM issues, Natixis co-lead managed Havas’ 5-year €350 million bond issue. Overall in 2009, Natixis has led all bond issues for non-listed French corporates.
Today, Havas launched and set the terms of an inaugural bond issue worth €350 million with a 5-year maturity (maturing on November 4, 2010) and a 5.50% coupon. The operation was announced on October 28.
The bond was placed with 150 qualified investors in Europe in three placement zones, i.e.
France, Switzerland and the United-Kingdom with 46%, 19% and 15% respectively.
This operation is the result of the normalization of the primary bond market that occurred in 2009. The recent issues for the less frequent non-listed issuers confirm an appetite for credit by investors as well as their growing need for diversification in their asset allocation policy.