ASF successfully issued a €1 billion bond at 12 years
18 February 2019 - 8:30 am - Finances
ASF (Autoroutes du Sud de la France) has successfully issued a €1 billion bond due to mature in February 2031 and carrying an annual coupon of 1.375 %.
The bond was oversubscribed by more than 2 times, confirming investor confidence in ASF's credit quality. The company is rated A- by Standard & Poor's with positive outlook, and A3 by Moody's with stable outlook.
The issue took place under ASF's EMTN programme and is intended to refinance ASF's existing debt. It enables the company to continue to optimise the cost of its debt and extend its average maturity in a favorable market environment.
The joint bookrunners for the deal were: BNP Paribas, Commerzbank, Mizuho International, SG CIB and Standard Chartered Bank.
VINCI is a global player in concessions, construction and energy businesses, employing more than 217,000 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, 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.