July 29, 2021

Naturgy offers to buy back up to 1,000 million euros in bonds

Naturgy has offered to repurchase up to 1 billion euros in debt from holders of guaranteed simple obligations corresponding to eight debt issues in order to cancel it.

In a communication to the CNMV, the multinational has made this offer to repurchase debt holders of these issues, which add up to 4.8 billion euros in obligations that expire between 2021 and 2025.

The repurchase proposal is made by the companies Naturgy Capital Markets and Naturgy Finance, and although the offer is made for an amount of up to 1,000 million euros, the issuers reserve the possibility of modifying said amount.

In parallel, Naturgy Finance announced on Tuesday its intention to issue new debt based on market conditions, although it does not detail what amount it would issue.

The purpose of these offers of sale and the issuance of new securities is "to extend the term of expiration of their debt of the issuers in an efficient manner" and to give liquidity to the holders of debt whose sale offers are accepted.

. (tagsToTranslate) Naturgy (t) offers (t) repurchase (t) millions (t) obligations

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