ASF successfully issues a €700 million 10-year bond
11 January 2013 - Finances
VINCI announces the successful placement by Autoroutes du Sud de la France (ASF) of a €700 million bond issue maturing in January 2023, with an annual coupon of 2.875%.
The issue, which was completed as part of ASF’s EMTN programme, was very well received by investors (being more than 6 times oversubscribed by nearly 300 subscribers), thus confirming their confidence in the company’s credit quality, rated BBB+ by Standard & Poor’s and Baa1 by Moody’s, with a stable outlook.
The issue is intended to refinance ASF’s existing debt and enables the Company’s average debt maturity to be lengthened.
The lead managers were BBVA, Barclays, ING, Mitsubishi UFJ Securities International, Société Générale Corporate and Investment Banking and UniCredit.
VINCI is a global player in concessions, energy and construction businesses, employing more than 260,000 people in nearly 120 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, we are committed to operating in an environmentally, socially responsible and ethical manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. Based on that approach, VINCI’s ambition is to create long-term value for its customers, shareholders, employees, partners and society in general.