VINCI issues GBP800m bond to fund Gatwick Airport stakes acquisition
VINCI Airports has issued a GBP800 million (US$1.04 billion) bond on behalf of its subsidiary to help fund the acquisition of a 50.01% stake in Gatwick Airport that it acquired at the end of 2018.
The bond is spread between a GBP400 million (US$522 million) strain, maturing in March 2027 with a 2.25% coupon and a GBP400 million (US$522 million) strain, maturing in September 2034, with a coupon of 2.75%.
Early 2019, the company has signed an agreement to acquire from current shareholders an effective 50.01% stake in Gatwick Airport Limited, a freehold property airport. The consideration payable for the stake is approximately GBP2.9 billion (US$3.67 billion), subject to closing adjustments.
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