Rueil-Malmaison (France), July 19, 2010 - Schneider Electric announced today the success of the partial buy-back of its July 2013 bond which bears a fixed coupon of 6.75%.
The total amount of the buy-back reached €263 million. The one-off financial charge related to this transaction is close to €40 million and will be booked in the second half of 2010.
The buy-back will lead to a reduction of the cost of financing from 2011 onwards.
About Schneider Electric
As a global specialist in energy management with operations in more than 100 countries, Schneider Electric offers integrated solutions across multiple market segments, including leadership positions in energy and infrastructure, industrial processes, building automation, and data centres/networks, as well as a broad presence in residential applications. Focused on making energy safe, reliable, and efficient, the company's 100,000 plus employees achieved sales of more than 15.8 billion euros in 2009, through an active commitment to help individuals and organisations “Make the most of their energy”.