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Michelin Luxembourg SCS: Michelin Group launches a bond issue
(06.19.2012 4 p.m. CET)
Press Release Regulated Information
MICHELIN Successfully Places €400 Million seven-Year Notes Issue
The Michelin Group has successfully placed a €400 million issue of seven-year, 2.750% notes. The issuer of the notes is Michelin Luxembourg SCS, with the guarantee of the Compagnie Financière Michelin. The issue has been rated BBB+ by Standard & Poor's and Baa1 by Moody's.
The very favorable investor response to the issue, which was heavily oversubscribed, attests to the market's confidence in the Group's creditworthiness and demonstrates the excellent geographic diversification of its investor base.
The issue supports the Group's strategy of actively managing its debt and strengthening its liquidity. It has helped to diversify Michelin's sources of financing and enhance its financial flexibility by lengthening the average maturity of its debt.
Société Générale Corporate & Investment Banking, BNP Paribas, Citigroup and The Royal Bank of Scotland were joint lead managers for the issue.
Contacts:
Investor Relations
Valérie Magloire : +33 (0) 1 78 76 45 37 - +33 (0) 6 76 21 88 12
valerie.magloire@fr.michelin.com
investor-relations@fr. michelin.com
Alban de Saint Martin : +33 (0)4 73 32 18 02 - +33 (0) 6 07 15 39 71
alban.de-saint-martin@fr.michelin.com
investor-relations@fr.michelin.com
