Taking advantage of the current market conditions with low interest rates, Ferrovial has priced a €500 million (US$540 million) 8-year senior bond. The issue was priced at 85 basis points over midswap, with a coupon of 1.375%.

Ferrovial will use the funds in corporate general purposes.

The order book was very diversified, and the deal was extremely well received by international investors. More than 80% of the issue was placed outside Spain, primarily in Germany, United Kingdom, and France.

The bond is eligible for the European Central Bank’s corporate sector purchase programme (CSPP), which targets qualifying investment-grade euro-denominated bonds issued by non-bank companies established in the Euro area.

Last year, Ferrovial successfully completed a €500 million 0.375% bond issues. Also two €500 million 3.375% bond issues in January 2013 (5 years) and May 2013 (8 years). In 2014, it issued a €300 million 10-year bond paying a 2.5% coupon.

Fitch and Standard & Poor’s maintained an investment grade rating for Ferrovial’s corporate debt: BBB, outlook stable.