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Allen & Overy advises the banking syndicate on L’Oréal’s inaugural bond

Allen & Overy has advised the banking syndicate including BNP Paribas and J.P. Morgan as global coordinators and joint bookrunners in relation to L’Oréal’s inaugural public bond offering for an aggregate nominal amount of EUR 3 billion, including a sustainability-linked tranche.

The offering is composed of three tranches:

  • A EUR 1,000 million 2-year fixed rate bond paying a coupon of 0,375% p.a.
  • A EUR 750 million 2-year floating rate note
  • A EUR 1,250 million 4.25-year Sustainability-Linked bond paying a coupon of 0,875% p.a. The Sustainability-Linked bond is aligned with L’Oréal’s newly introduced Sustainability-Linked Financing Framework.

The new issuance has benefitted from a total demand of EUR 10.7 billion, just over 3.5 times the combined volume of the offering.

The Allen & Overy team in Paris was composed of Hervé Ekué (Partner), Quentin Herry (Senior Associate) and Emilie Ferré (Associate) on international capital markets aspects. The team also included Mathieu Vignon (Partner) and Virginie Chatté (Senior Associate) on tax aspects.

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