Elis: completes E500m bond issue
(CercleFinance.com) - Elis announces that it has successfully raised 500 million euros through a five-year bond issue offering a 1.
75% coupon, an issue for which demand from investors reached 3 billion euros.
The proceeds will add to the 300 million euros expected to be raised under the USPP project that was announced on 29 March to fully repay the 800 million euro 3% bond issue due in April 2022.
This refinancing will enable Elis to extend the average maturity of its debt, smooth out its maturities and reduce its overall funding cost. The new debt profile will run from 2022 to 2029, at rates ranging from 0% to 2.875%.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
75% coupon, an issue for which demand from investors reached 3 billion euros.
The proceeds will add to the 300 million euros expected to be raised under the USPP project that was announced on 29 March to fully repay the 800 million euro 3% bond issue due in April 2022.
This refinancing will enable Elis to extend the average maturity of its debt, smooth out its maturities and reduce its overall funding cost. The new debt profile will run from 2022 to 2029, at rates ranging from 0% to 2.875%.
Copyright (c) 2019 CercleFinance.com. All rights reserved.