ASF successfully issues a €1 billion 10-year bond
5 January 2017 - Finances
ASF (Autoroutes du Sud de la France) has successfully issued a €1 billion bond due to mature in January 2027 and carrying an annual coupon of 1.25%.
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 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.
VINCI is a global player in concessions and construction, employing more than 185,000 people in some 100 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, above and beyond economic and financial results, we are committed to operating in an environmentally and socially responsible 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.