• The 2.25% coupon is below the company's cost of debt
  • Holding d'Infraestructures de Transport will rebuy previously issued bonds maturing in March 2018 for a principal amount of up to 250 €Mn

Holding d'Infrastructures de Transport (HIT SAS), the French company controlled by Abertis through a 52.55% stake, has closed a public bond issue of bonds for a total amount of 200 million Euro, 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 €Mn 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 €Mn.

These transactions allow the company to extend the maturity profile, deliver on its active balance sheet management strategy and illustrate the company's ability to finance itself at attractive conditions and continue creating value for its shareholders.

In the last two years, Abertis has completed debt refinancing deals -corporate and on its subsidiaries- for more than 2,500 €Mn.

distributed by