The FINANCIAL -- Euronext Brussels announces the successful admission to listing on its Alternext market of corporate bonds issued by Econocom, a major player specialising in the digital transformation of businesses.
The bonds are admitted to listing on Alternext Brussels through a private placement with a total issued amount of €101 million, broken down into two tranches of €45.5 and €55.5 million, with respective maturities of 5 and 7 years. The interest rates stand respectively at 2.364% and 2.804%. ING and Société Générale Corporate & Investment Banking acted as joint lead managers for the issue, according to Euronext.
Econocom, who recently joined the new Tech40 European index, decided to list the new bonds on Alternext under the Euronext Private Placement Bonds programme (EPPB) which Euronext recently initiated at Alternext. A Euronext initiative, this new product gives issuers of private placement bonds— Euro PP, High Yield, mutualized bonds or securitisation vehicles — easier access to Euronext markets in France, Belgium and Portugal, thus expanding their investor base.
Vincent van Dessel, CEO of Euronext Brussels: “The listing of Econocom’s bonds highlights Euronext’s position as a leading stock exchange and financing centre for high quality companies. Corporates are increasingly looking to diversify their funding and the capital markets enable companies to address their debt funding needs, both short and long term. With the EPPB programme, Euronext emphasizes once more that it makes the right choices to meet the issuers’ needs.”
Alain Baetens, Head of Listings of Euronext Brussels, added: “We are delighted with this inaugural issue by Econocom under our new EPPB (Euronext Private Placement Bond) programme. This successful bond issue could benefit of a simplified and cost effective listing process, while providing access to a wide community of potentially new investors. We are convinced the choice to list the bond will further strengthen the notoriety of Econocom as listed company on our exchange.