Essilor Carries out $300 Million US Private Placement Notes Issue on Favorable Terms

Tue Jul 2, 2013 1:30am EDT

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Essilor Carries out $300 Million US Private Placement Notes Issue on Favorable Terms

Regulatory News:

Essilor International (Paris:EI)is strengthening its financial position to support ongoing implementation of its development strategy, with the goal of improving the vision of 4.2 billion people worldwide.

To this end, the Company has carried out a $300 million US private placement notes issue with 18 investors. The senior unsecured notes have been issued to refinance a bank loan due in 2014. The issue will enable the Company to extend the average maturity of its debt and broaden its investor base.

The program comprises five fixed or variable-rate tranches, with maturities ranging between 2017 and 2023. The very favorable terms of the transaction – with a 3.40% coupon rate offered on the 10-year tranche – attests to the US investors’ confidence in Essilor’s financial strength. Initially announced as a $150 million transaction, the issue was more than seven times oversubscribed.

About Essilor

The world’s leading ophthalmic optics company, Essilor designs, manufactures and markets a wide range of lenses to improve and protect eyesight. Its corporate mission is to enable everyone around the world to access lenses that meet his or her unique vision requirements. To support this mission, the Company allocates more than €150 million to research and innovation every year, in a commitment to continuously bring new, more effective products to market. Essilor’s flagship brands are Varilux®, Crizal®, Definity®, Xperio®, OptifogTM and Foster Grant®. It also develops and markets equipment, instruments and services for eyecare professionals.

Essilor reported consolidated revenue of approximately €5 billion in 2012 and employs around 50,700 people. It operates in some 100 countries with 22 plants, more than 400 prescription laboratories and edging facilities, as well as several research and development centers around the world.

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The Essilor share trades on the NYSE Euronext Paris market and is included in the Euro Stoxx 50 and CAC 40 indices.

Codes and symbols: ISIN: FR0000121667; Reuters: ESSI.PA; Bloomberg: EI:FP.

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