Proximus Successfully Prices EUR 700 Million Bond Transaction

Proximus, Belgium’s leading telecommunications company, has achieved a significant milestone with the successful pricing of its EUR 700 million bond transaction.
Proximus fiber businessThe bonds, with a 10-year maturity due on March 27, 2034, carry a coupon of 3.75 percent. Settlement is scheduled for March 27, 2024, with the bonds anticipated to be admitted to trading on Euronext on or around the same day.

The issuance, rated BBB+ by S&P and A2 by Moody’s, aligns with Proximus’ long-term credit rating. The strong reception from investors underscores the quality and resilience of Proximus’ credit profile, with the order book surpassing EUR 1.6 billion, representing a remarkable oversubscription of 2.2 times. Over 90 European institutional investors participated in the transaction, reflecting robust investor appetite in the institutional bond markets.

This successful bond issuance not only highlights the confidence investors have in Proximus but also reaffirms the company’s strategic positioning and financial strength. It aligns seamlessly with Proximus’ long-term funding strategy, further bolstering its financial flexibility.

The proceeds from the bond offering will be allocated towards general corporate purposes and will also cater to financing requirements associated with Proximus Group’s impending acquisition of a majority stake in Route Mobile. This strategic move underscores Proximus’ commitment to enhancing its market position and expanding its portfolio of offerings.

Barclays, BNP Paribas, Bred Banque Populaire, Commerzbank, KBC Bank, and Morgan Stanley served as joint bookrunners for this transaction, further emphasizing the strong support and confidence of leading financial institutions in Proximus’ growth trajectory.

The successful pricing of the EUR 700 million bond transaction marks a significant achievement for Proximus, reflecting its robust credit profile, strategic vision, and strong investor appeal in the global financial markets.