Schneider Electric launches €750m bond

Schneider Electric, the French electrical manufacture, announced today it has launched a €750m bond expiring in 2008 to reimburse its debt maturing in 2004 including a €1bn bond maturing in April.

The bond was launched via Citigroup, Natexis and Societe Generale. It expires on October 31, 2008 and has a coupon of 3.876 pts.

In September, Schneider pulled out of Ireland closing its facility in Celbridge, Co Kildare, with the loss of 265 permanent and 50 temporary jobs.

Also earlier this year Schneider announced the closure of its Square D facility in Ballinasloe, which employed 385 people.