Thales Issues €1bn Bond for Exail Acquisition

Thales, a global leader in advanced technologies, has issued a €1 billion bond on August 20th, 2026. This bond aims to fund the upcoming acquisition of Exail, initially announced in July. The issuance consists of two tranches: a 4-year tranche at a 3.50% fixed rate and an 8-year tranche at a 3.75% fixed rate. The bond was well-received by investors, demonstrating strong market confidence in Thales' creditworthiness, which Moody's and S&P Global Ratings have rated as A2 and A- respectively, both with stable outlooks.

The issuance was coordinated by Crédit Agricole Corporate & Investment Bank, along with major financial institutions such as BNP Paribas, Deutsche Bank, and J.P. Morgan, acting as bookrunners. This reflects the broad investor base's trust in Thales’ strategic direction and financial management.