Saturday 19 January 2019

Vinci company issues $1.05bn bond, maturity in 2027

PARIS, January 7, 2017

Vinci, a global player in concessions and construction, said one of its units ASF (Autoroutes du Sud de la France) has successfully issued a €1 billion ($1.05 billion) bond due to mature in January 2027 and carrying an annual coupon of 1.25 per cent.

The bond was more than three times oversubscribed, confirming investor confidence in ASF's credit quality. The company is rated A- by Standard & Poor's and A3 by Moody's, with a stable outlook.

The issue forms part of ASF's EMTN programme and its purpose is to refinance ASF's existing debt.

It enables the company to take advantage of good market conditions in order to continue optimising the cost of its debt and extend its average maturity. The issue was the first 10-year euro-denominated corporate bond of 2017.

The joint bookrunners for the deal were: Mizuho (global co-ordinator), Natixis (global co-ordinator), Barclays, ING, RBC CM and SMBC Nikko.
A major player in the designing, financing, building and operation of infrastructure and facilities, Vinci employs more than 185,000 people in some 100 countries.-TradeArabia News Service

Tags: Vinci | Euro bond |

More Construction & Real Estate Stories

calendarCalendar of Events