Rexel plans to redeem its 8¼% senior notes with new offering proceeds

By Tali David

Minneapolis, March 19 - Rexel SA intends to use the proceeds of a senior note offering to redeem its outstanding 8¼% senior notes due 2016, according to a notice.

Rexel will redeem its notes at their applicable make-whole redemption premium, plus accrued and unpaid interest.

The company can elect not to redeem the notes if it does not issue at least €500 million of euro-denominated notes as part of this issuance.

Rexel will also use proceeds for general corporate purposes.

Rexel is a Paris-based provider of electrical solutions and equipment.

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