By
Europa Press
Translated by
Nazia BIBI KEENOO
Published
July 15, 2025
El Corte Inglés has announced plans to issue a new €500 million ($585 million) bond with an eight-year maturity, according to company sources cited by Europa Press.
The retail giant, chaired by Marta Álvarez, will offer fixed-rate senior bonds, with final terms subject to market conditions, Bloomberg reported.
El Corte Inglés will issue the bonds under its Euro Medium Term Note (EMTN) program, dated July 15, and expects to receive a rating of ‘BBB-/BBB-’ from S&P and Fitch.
Proceeds from the bond issue will be allocated to general corporate purposes, which may include refinancing existing debt.
El Corte Inglés has appointed Barclays, BBVA, BofA Securities, CaixaBank, Citi, Goldman Sachs Bank Europe SE, and J.P. Morgan to lead the transaction, with Barclays also coordinating the investor roadshow.
This move follows the company’s previous €500 million bond offering issued a year ago, which attracted strong investor interest, with demand exceeding supply by approximately seven times. That offering, supported by both domestic and international institutional investors, marked El Corte Inglés’ first investment-grade placement, maturing in June 2031, and was rated by Standard & Poor’s and Fitch.
The current offering is also targeted at qualified institutional investors, underscoring the group’s ongoing strategy to strengthen its financial position and reinforce its presence in the capital markets.
(€1 = $1.17)
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