Abertis french subsidiary issues 200 mn 10 year bonds with a 2.25 annual coupon

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Abertis french subsidiary issues 200 mn 10 year bonds with a 2.25 annual coupon

Holding d'Infrastructures de Transport (HIT SAS), the French company controlled by Abertis through a 52.55% stake, has closed a public bond issue.

The bond issues has been closed for a total amount of €200 million (US$224.3 million), maturing in March 2025, and paying an annual coupon of 2.25%, below the company's cost of debt.

The new notes will be consolidated and form a single series with the €450 million notes due on 24 March 2025 issued on 24 September 2014, with a 2.250% coupon.

Moreover, the French company has invited the holders of its previously issued bonds by HIT Finance with a 5.75% coupon and maturing in March 2018 to submit offers to sell their notes to the company for cash in an aggregate principal amount of up to €250 million.

In the last two years, Abertis has completed debt refinancing deals, corporate and on its subsidiaries, for more than €2,500 million (US$2803 million). 

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