Thales S.A. issued a dual-tranche bond totaling €1 billion. The company will use the proceeds to finance the acquisition of Exail Technologies. Thales originally announced this transaction on July 6, 2026.
The first tranche totals €500 million. This portion matures in four years. It carries a 3.50% coupon.
The second tranche also totals €500 million. This portion matures in eight years. It carries a 3.75% coupon.
A diversified investor base heavily oversubscribed the offering. Moody’s maintains an A2 credit rating for the company. S&P Global Ratings assigns Thales an A- rating.