Bond offering for SAFRAN's convertible bonds
In a significant move, SAFRAN, a leading player in the aero-space and defense industry, has successfully issued a €800 million convertible bond. This issuance, which is the largest in France since 2016, took place in one of the most impacted sectors. The press release, issued by the website, states that SAFRAN was led by the website as Joint Bookrunner for this landmark transaction. Crédit Agricole CIB also served as Joint Lead Manager for the issuance. SAFRAN, known for its manufacturing of a variety of products, including engines and guidance systems, is a sector leader with a solid footprint and high-quality assets. This fact has not gone unnoticed by investors, who are particularly attracted to such companies in these challenging times. The convertible bond issuance by SAFRAN is not only the largest in France but also the second largest across Europe in 2020. Despite the ongoing uncertainty in equity markets, both straight and convertible, such transactions continue to take place. SAFRAN's business does not only involve manufacturing; the company also provides aftermarket services. This diversified approach has likely contributed to SAFRAN's ability to raise such a substantial amount in the current climate. Investors will be watching SAFRAN closely as the company navigates the ongoing challenges in its sector. With its strong position and the successful completion of this convertible bond issuance, SAFRAN appears well-positioned to meet these challenges head-on.
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