Alstom: hybrid bond issue

(CercleFinance.com) - Alstom announces that it has priced E750m of super-subordinated ('hybrid') bonds, which was massively oversubscribed to, reflecting strong demand from different geographical areas and investor categories.


The bonds carry a fixed-rate coupon of 5.868% p.a. for the first 5.25 years, with a rate reset every five years thereafter. They are perpetual senior subordinated notes of the issuer.

The issue is part of the E2bn debt reduction plan previously announced by the rail equipment supplier. The proceeds will be used to repay around E1.2bn in short-term debt by September 2024.


Copyright (c) 2024 CercleFinance.com. All rights reserved.