on L'OREAL (EPA:OR)
L'Oréal issues a €2 billion bond in three tranches
On September 24, 2026, L'Oréal successfully completed a €2 billion bond issue. This transaction is divided into three tranches. The first tranche amounts to €850 million over two years, with a floating coupon of Euribor 3M + 27 basis points per annum. The second tranche, for €500 million over three years, offers a fixed rate of 3.75% per annum. Finally, the third tranche, for €650 million over seven years, carries a fixed rate of 4.00% per annum.
The funds raised will be used for L'Oréal's general corporate purposes. The bonds are expected to receive an AA (Stable) rating from S&P and an Aa1 (Stable) rating from Moody's. They will be listed on Euronext Paris from September 30, 2026. BNP Paribas, HSBC, and Société Générale CIB acted as Global Coordinators, while several other institutions served as Bookrunners for this issuance.
R. H.
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