Canal+ Debut Bond Sale Nets €700 Million Helped by Heavy Demand

Canal+ SA raised €700 million ($811 million) with its debut euro bond after attracting strong demand, marking the French media group’s first foray into public debt capital markets.

The entertainment conglomerate on Wednesday priced the five-year unrated notes at 225 basis points above mid-swaps, after initial price thoughts at around 250 basis points over, according to a person familiar with the matter who asked not to be identified. Final books ended at €4.7 billion, making the deal more than six times covered and allowing the borrower to up the size from the €500 million originally earmarked. A spokesperson for Canal+ declined to comment.