Rexel launches approximately €500 million equity raise for GCG deal

Rexel ($RXL) has launched an accelerated share placement seeking approximately €500 million to help finance its agreed acquisition of GCG. The new shares will be offered to qualified investors without existing shareholders receiving preferential subscription rights or a priority period. Pricing and the final number of shares will be determined through the bookbuilding process.

The equity component complements planned funding from cash and debt and is intended to help preserve credit quality and an approximately 2.0-times net-debt-to-EBITDAaL ratio from 2027. Those are financing objectives, not assurances. Settlement is expected around October 1, while final terms are due after bookbuilding. The raise is newly launched rather than completed; shareholders who do not participate will be diluted. The previously announced GCG acquisition itself remains a separate, pending transaction.

Sources:

• Rexel company release — GlobeNewswire