Sanef closes 12-year €300 million bond issue with 0.95% coupon
Sanef, the French company controlled by Abertis through a 52.55% stake in Holding d’Infrastructures de Transport (HIT), has closed a 12-year €300 million (US$331 million) public bond issue maturing in October 2028 and paying a coupon of 0.95%.
This is one of the lowest costs in history for bonds issued at same term by companies with same rating. The issue was closed with an oversubscription of over 3x.
This is the second public bond issue carried out directly by subsidiary Sanef, after the issue in November 2015 of a €600 million bond. Its net proceeds will be used to repay short-term, higher cost debt.
The issue allows the company to extend its debt’s maturity profile, deliver on its active balance sheet management strategy and illustrate the company’s ability to finance itself at attractive conditions and continue creating value for its shareholders.
During 2016, Abertis has completed debt refinancing deals –both corporate and on its subsidiaries– for close to €1,500 million. Last May, Abertis closed a 10-year €1,150 million bond issue maturing in May 2026, the biggest issue in the history of the company.
Country news
-
-
September 29, 2016
Vinci sells remaining stake in Indigo
Pursuant to the agreement signed on 13 June 2016 with Ardian, the independent private investment company, and Crédit Agricole Assurances, VINCI has announced the disposal of its remaining 24.6% stake in parking operator Indigo, previously called VINCI Park. Read more -
September 26, 2016
Cellnex Telecom completes acquisition of 230 cell towers from Bouygues Telecom in France
Cellnex Telecom, a Spanish telecommunication tower operator has announced it has completed the acquisition of a package of 230 cell towers distributed throughout France from Bouygues Telecom. Read more -
September 16, 2016
Zencap AM reaches first closing for Zencap Infra Debt 2
Zencap Asset Management, an asset manager whose investment focus lies in European unlisted debt, has launched Zencap Infra Debt 2, attracting a total commitment of €236 million (US$265 million) for its first closing from four institutional investors in the insurance sector. Read more -
September 14, 2016
Ferrovial places a 500 million euro 6-year bond at a 0.375% coupon
Taking advantage of the current market conditions with low interest rates, Ferrovial has successfully priced a €500 million (US$562 million) 6-year senior bond. Read more -
August 29, 2016
Eiffage strengthens its international position by the acquisition of the Chris Vuylsteke group in the Benelux
Eiffage has announced it is to acquire, via Eiffage Benelux, a subsidiary of its Construction branch, the Chris Vuylsteke group, a company specialized in construction and property development based in Meulebeke, West Flanders (Belgium). Read more
