SIS consortium has issued a EUR518 million (US$579.46 million) bond to complete financing close for the concession of A3 (Naples-Pompei-Salerno) highway. SIS consortium made up of Sacyr (49%) and Fininc (51%), signed the contract for concession in 2021. JP Morgan and Santander acted as book-runners for the placement. Issued bonds will reach maturity in 2045 and has a BBB rating. The consortium has bank debt of EUR90 million (US$100 million) with Banco BPM.

The project has a concession period of 25 years and an expected backlog of EUR2.7 billion (US$3.02 billion). The PPP project involves a 52 km Autostrada A3 Napoli-Reggio Calabria motorway located in the south of Italy, which runs from Naples to Reggio Calabria via Salerno. SIS consortium will start execution of construction works for EUR390 million (US$436.27 million) to modernize and improve the safety of several sections of the highway and to carry out the operation and maintenance of the road.