Europcar Euronext Paris IPO

Overview:

• Car rental firm Europcar successfully listed on the regulated market of the Euronext Paris, the offering was initiated by its principal shareholder, Eurazeo.
• The company raised €475 million by way of the issuance of new shares, as well as the sale of shares by existing shareholders amounting to €404 million. 
• The total amount of the offering raised approximately €879 million, with a market capitalisation of €1.75 billion based on a share price of €12.25.
• Deutsche Bank, Goldman Sachs International and Société Générale Corporate & Investment Banking acted as joint global coordinators and joint bookrunners.
• BNP Paribas, HSBC France, Crédit Agricole Corporate & Investment Bank and Morgan Stanley acted as joint bookrunners and CM-CIC Securities acted as co-manager. 
• In conjunction to the deal Europcar also offered €475 million 5.75% senior notes due 2022 on to the Luxembourg Stock Exchange, and a €350 million credit facility to refinancing its existing debt. 
• Gide Loyrette Nouel acted for Europcar on its high yield offering and refinancing transactions. 

John Crabb - Journalist