CCR to refinance road project in Brazil through bond issue

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CCR to refinance road project in Brazil through bond issue

Autoban, concessionaire of the "Sistema Anhanguera Bandeirantes", belonging to Grupo CCR, released last week the preliminary prospectus for the issue of R$450 million (US$189 million) senior, unsecured, non-convertible debentures.

Banco Itaú BBA is the Lead Arranger for the issue and BB Investimento is also arranging the deal.

Moody's has assigned a Baa1 rating on the global scale (domestic currency), and an National Scale Rating (NSR) to AutoBAn's 5-year .

The issue will take place on October 15th.

The resources will be used for refinancing existing debt and adding capacity to the road according to the investment plan agreed with the administration.

The Anhanguera-Bandeirantes system comprises of highways Anhanguera (SP-330), Bandeirantes (SP-348), Dom Gabriel Paulino Bueno (SP-300), and the Adalberto Panzan interchange (SPI-102/330), totaling 316.8 kilometers. With an average traffic flow of 370 thousand trips per day, the system plays a crucial role in the transportation of agricultural and industrial products connecting the capital city to Campinas, one of the richest economic hubs in the country.

Concessionária do Sistema Anhanguera-Bandeirantes S/A (AutoBAn) is an operating subsidiary of CCR S.A., one of Brazil's largest toll-road concession groups, which controls approximately 2,437 kilometers of toll road concessions. AutoBAn has been the highest revenue generating asset in CCR's portfolio of infrastructure concessions. In 1998, the company was awarded the 28-year concession contract.

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