July 29, 2021

Abertis places 3,000 million in bonds with a demand five times higher

Abertis places 3,000 million in bonds with a demand five times higher

Abertis has made an issue of bonds for an amount of 3,000 million euros on Monday, amount that the company's main shareholders, Atlantia and ACS – through its German subsidiary Hochtief – will use to refinance debt derived from the acquisition of the group.

The issue has had a high oversubscription, after receiving orders worth more than 15,000 million euros, and has been supported by the main European institutional investors, as reported by Abertis to the CNMV, the stock market regulator.

In fact, Abertis has placed the issue after making this past week a round of meetings with investors in several European cities, such as London, Paris, Amsterdam or Frankfurt, to explain this operation and its future plans.

"This successful broadcast demonstrates the confidence of financial markets in the Abertis project and its ability to take advantage of new opportunities," the company highlights.

The issuance was structured in four tranches with maturities between 2024 and 2031 and a coupon ranging between 1.5 and 3.75%, depending on the tranche.

Abertis affirms that with this issue it has access to "very long-term financing with very attractive rates", culminating in this way the process of refinancing the debt of the acquisition.

"This issue highlights the efficiency in the active management of the company's balance sheet and the ability of Abertis to take advantage of the opportunities offered by the credit market to obtain attractive conditions and continue to generate value for its shareholders," the multinational stresses.

It is expected that the closing and disbursement of the issue, the largest amount made by Abertis, will be made on March 27.


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