Vinci: ASF's bond issue oversubscribed to
(CercleFinance.com) - Vinci has announced the successful placement, by its subsidiary ASF (Autoroutes du Sud de la France), of a 1 billion euro bond issue maturing in February 2031, which will pay a coupon of 1.
375% p.a., with the issue oversubscribed to over twice.
According to the construction, civil engineering and concessions group, this over-subscription confirms investors' confidence in the company's credit quality, which is rated A- by Standard & Poor's with a positive outlook, and A3 by Moody's with a stable outlook.
As part of its EMTN program, this issue is intended to refinance ASF's existing debt. It enables it to continue to optimise the cost of its debt and extend its average maturity in a favourable market environment.
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