JCDecaux issued 500 million euro ($571 million US) 8 year notes at a coupon rate of 1.625%.  The funds will be used to refi existing debt and for general corporate purposes.  The offer was oversubscribed by 3 times.   The refi comes follows last week’s announcement that the JCDecaux revenue grew 18% in 2021 (but by only 5% in North America).

Billboard Insider’s take:  The refinance is a sign of market confidence out of home and market confidence that JCDecaux’s transit business will eventually recover.   The company’s stock is up 44% for the year versus a 17% return for the Standard and Poors.

JC Decaux Stock (Blue) versus Standard and Poors 500 (Black) over past year

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