Taking advantage of the current market conditions with low interest rates, Ferrovial has priced a €500 million (US$540 million) 8-year senior bond. The issue was priced at 85 basis points over midswap, with a coupon of 1.375%.
Corporate Finance News
HICL Infrastructure Company Limited has announced that it has successfully increased the size of the group's revolving credit facility from £200 million (US$255 million) to £300 (US$382 million) million.
International Public Partnerships Limited (INPP) has announced that it has successfully revised the terms of its corporate debt facility, increasing the facility from £300 million (US$373 million) to £400 million (US$498 million).
Cintra has named Belen Marcos as its new United States president, following the promotion of its previous president, Nicolas Rubio to Global Operations Director in Madrid, Spain.
Macquarie Infrastructure Corporation (MIC) has announced the pricing of US$350 million of convertible senior notes due 2023.
Sanef, the French company controlled by Abertis through a 52.55% stake in Holding d’Infrastructures de Transport (HIT), has closed a 12-year €300 million (US$331 million) public bond issue maturing in October 2028 and paying a coupon of 0.95%.
Bluefield Solar Income Fund Limited (Bluefield) has announced the financial close of a £187 million (US$241 million) long-term debt facility and a £30 million (US$39 million) short-term revolving credit facility (RCF).
Infratil has announced that the Board has approved the establishment of a NZD30 million (US$21.7 million) infrastructure bond buyback capability.
Taking advantage of the current market conditions with low interest rates, Ferrovial has successfully priced a €500 million (US$562 million) 6-year senior bond.
Isolux Corsan obtains the support of the majority of the banks and bondholders for the restructuring plan
The refinancing agreement of Isolux Corsan (Master Restructuring Agreement or MRA) has been signed by the bondholders and a large majority of creditor banks. Once the deadline for the adhesion expired, the signatories of the agreement represent 89.4% of the financial debt subject to restructuring. This support allows requesting court approval in order to extend the agreed terms to all financial creditors.
The European Bank for Reconstruction and Development (EBRD) is strengthening Turkey’s capital markets by investing in the country’s longest tenor corporate bond.
Empresas ICA, S.A.B. de C.V. has signed a secured convertible loan agreement for a total principal amount of US$215 million and a 3-year term of maturity, through its subsidiaries Controladora de Operaciones de Infraestructura, S.A. de C.V. and ICA Promoción e Infraestructura, S.A.P.I., with Fintech Europe S.A.RL. (Fintech), as lender, and ICA acting as guarantor.
DP World has announced that the company has raised US$1.2 billion in a new 7-year sukuk, the Arabic commonly referred to as "sharia compliant" bonds, set to be listed on NASDAQ Dubai, the Middle East’s international financial exchange. The issue received strong investor interest receiving more than US$2 billion in bids.
Abertis has closed a 10-year, €1.15 billion (US$1.3 billion) bonds issue maturing in May 2026, which is the biggest corporate bond issue in the company’s history.
The European Investment Bank has agreed to provide US$717 million to support investment across the north-west of England by United Utilities. The 18 year loan from Europe’s long-term lending institution will be used to finance improvements to the region’s water and wastewater networks as part of United Utilities’ GBP 3.5 billion capital investment program for the 2015 to 2020 regulatory period.
AustralianSuper, an Australian superannuation / pension fund, is helping Spanish highway company Itinere to refinance its long-term debt commitments.
Rönesans Holding, one of Turkey’s largest construction and infrastructure companies, has issued its first Turkish lira-denominated floating-rate bonds of three-year maturity.
China Railway Construction, a state-backed railway builder, plans to raise US$500 million by issuing convertible bonds.
The Asian Development Bank (ADB) has signed an agreement in partnership with 18 banks to support a water supply and distribution project of the China Water Affairs Group (CWA), which aims to improve access to water in underserved areas of the People's Republic of China (PRC).
Rubicon Infrastructure Advisors has reached financial close on the procurement of debt for Cignal Infrastructure Limited.