FINANCIAL AND ACCOUNTING INFORMATION 22.1.2 Senior notes As of December 31, 2017, the carrying amount of the existing senior notes is detailed as follows: AS OF DECEMBER 31, 2017 2016 NOMINAL NOMINAL FAIR NOMINAL NOMINAL FAIR AMOUNT AMOUNT VALUE AMOUNT AMOUNT VALUE (in millions (in millions ADJUST- (in millions (in millions ADJUST- of currency) of euros) MENTS (1) TOTAL of currency) of euros) MENTS (1) TOTAL Senior notes due 2020 – – – – – USD 330.0 313.1 3.8 316.8 Senior notes due 2022 – – – – – EUR 500.0 500.0 14.1 514.1 Senior notes due 2023 EUR 650.0 650.0 0.1 650.1 EUR 650.0 650.0 – 650.0 Senior notes due 2024 EUR 300.0 300.0 (1.2) 298.8 – – – – Senior notes due 2025 EUR 500.0 500.0 (2.4) 497.6 – – – – TOTAL 1,450.0 (3.4) 1,446.6 1,463.1 17.9 1,480.9 (1)Adjustment to reflect interest rate fluctuations on the part of the notes hedged through fair value hedge derivatives (see note 23.1). €650 million notes due 2023 The notes rank pari passu with Rexel’s senior credit On May 18, 2016, Rexel issued €650 million of senior facil ity and other senior unsecured notes. Rexel unsecured notes due 2023 which bear interests at pays interest on the notes semi-annually on June 15 3.50% annually. and December 15, starting from June 15, 2017. The notes mature on June 15, 2024 and are listed on the The notes rank pari passu with Rexel’s senior credit Luxembourg Stock Exchange. facility and other senior unsecured notes. Rexel pays These notes are redeemable in whole or in part at interest on the notes semi-annually on June 15 and any time prior to March 15, 2020 at a redemption December 15, starting from December 15, 2016. The price equal to 100% of their principal amount, plus notes mature on June 15, 2023 and are listed on the a “make-whole” premium and accrued and unpaid Luxembourg Stock Exchange. interest. On or after March 15, 2020, the notes These notes are redeemable in whole or in part are redeemable in whole or in part by paying the at any time prior to June 15, 2019 at a redemption redemption price set forth below: price equal to 100% of their principal amount, plus a “make-whole” premium and accrued and REDEMPTION PRICE (AS A % OF PRINCIPAL unpaid interest. On or after June 15, 2019, the notes REDEMPTION PERIOD BEGINNING ON: AMOUNT) are redeemable in whole or in part by paying the March 15, 2020 101.313% redemption price set forth below: March 15, 2021 100.656% REDEMPTION PRICE March 15, 2022 and after 100.000% (AS A % OF PRINCIPAL REDEMPTION PERIOD BEGINNING ON: AMOUNT) On June 16, 2017, proceeds from this issuance June 15, 2019 101.750% were used to repay the remaining outstanding June 15, 2020 100.875% 5.25% US$500 million senior notes due 2020 for a June 15, 2021 and after 100.000% principal amount of US$330 million. The redemption price was 102.625% of the principal amount of the redeemed notes and amounted €302.3 mil lion. A €300 million notes due 2024 loss of €6.3 million has been recognized in the net On March 13, 2017, Rexel issued €300 million of senior financial expenses including the early redemption unsecured notes due 2024 which bear interests at premium plus unamortized transaction costs and 2.625% annually. fair value hedge adjustments. REXEL 2017 – REGISTRATION DOCUMENT 256