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Press release

Finance 22 March 2017

Successful €500 million bond issue

Edenred announces the success of its €500 million 10-year 1.875% bond issue.

The bond issue was placed with a diverse base of more than 100 international institutional investors and was more than three times oversubscribed, confirming the market's confidence in the Group's credit quality.

The new bond issue will provide financing for general corporate purposes and, more particularly, for the Group's growth projects. Following the €250 million Schuldschein loan issued by the Group in June 2016 under particularly favorable conditions, this new bond issue will also contribute to repaying the €510 million 3.625% bond issue due in October 2017. 

Maturing in March 2027, the new bond issue has an immediate effect on the average maturity of the Group's debt, increasing it to 5.4 years from 4.4 years at December 31, 2016, and reduces its average cost of debt to 2.1%  versus 2.5% at December 31, 2016. After repayment of the €510 million bond issue in October 2017, Edenred will have a particularly well-balanced debt profile, with no major repayments due before 2025 and average maturity extended by around two years. 

Patrick Bataillard, Executive Vice President, Finance, said: “The success of the bond issue and the conditions obtained reflect the confidence investors place in Edenred's strategy of profitable and sustainable growth. It demonstrates our ability to strengthen our financial position and reduce our average financing costs. Once the bonds due in October 2017 have been repaid, we will have no major repayments due before 2025. With this new bond issue and our €700 million revolving credit line, we have the resources we need to finance our growth ambitions, whether by investing in new areas or seizing external growth opportunities.

Edenred has been rated "BBB+/A-2 Outlook stable" by Standard & Poor's, corresponding to a "strong investment grade" rating.

Crédit Agricole CIB, HSBC and SG CIB acted as global coordinators and joint bookrunners. Barclays, BNP Paribas, Citi and Santander also acted as joint bookrunners.


*Excluding the Brazilian loans, the average cost of debt is 1.5%.


Edenred is a leading digital platform for services and payments and the everyday companion for people at work, connecting more than 52 million users and 2 million partner merchants in 45 countries via close to 1 million corporate clients.

Edenred offers specific-purpose payment solutions for food (such as meal benefits), incentives (such as gift cards, employee engagement platforms), mobility (such as multi-energy, maintenance, toll, parking and commuter solutions) and corporate payments (such as virtual cards). 

True to the Group’s purpose, “Enrich connections. For good.”, these solutions enhance users’ well-being and purchasing power. They improve companies’ attractiveness and efficiency, and vitalize the employment market and the local economy. They also foster access to healthier food, more environmentally friendly products and softer mobility.

Edenred’s 10,000 employees are committed to making the world of work a connected ecosystem that is safer, more efficient and more responsible every day. 
In 2022, thanks to its global technology assets, the Group managed some €38 billion in business volume, primarily carried out via mobile applications, online platforms and cards.

Edenred is listed on the Euronext Paris stock exchange and included in the following indices: CAC 40 ESG, CAC Next 20, CAC Large 60, Euronext 100, FTSE4Good and MSCI Europe.

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