French investment firm, Wendel, has raised €300 million in a sale of bonds. It intends to use the net proceeds to redeem banking debt with much shorter maturities.
BNP Paribas, Natixis and Société Générale assisted with the sale. The bonds carry a coupon rate of 6.75% and are due to mature on April 20, 2018.
Click here for the release from Wendel.