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photo: Adif Alta Velocidad/Adif AV Issues EUR 600 Million Bonds for Infrastructure Construction and Maintenance
Adif Alta Velocidad has issued a bond issue for a volume of EUR 600 million to continue financing its infrastructure construction and maintenance activity.
The bond maturity is five years, with an annual coupon payment of 3.5% and a spread over the Treasury of 42 bp, representing a decrease of 3 bp concerning the last issue.
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The placement was attended by 95 investors for a total volume of approximately EUR 2,500 million, representing an oversubscription of 4.2 times the amount allotted.
The demand has been very diverse and, as in previous issues, the geographical distribution of the investors stands out: 71% have been international and, of these, 18% came from Italy and 17% from countries such as Germany, Austria, and Switzerland.
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The “lumière” tram, from Alstom’s Citadis range, has entered commercial service on the new T10 tramway line, which now links La Croix de Berny (Antony)…
Adif has maintained diversified sources of financing. On this occasion, the issue has been made in standard format – the previous issue of this nature was in 2015 – and it is the first Spanish state-owned public company to issue 'green bonds' – it has been doing so since 2017 – placing it in the third position as an issuer of green bonds at the national level and one of the main references at the European level, with a total of 4,000 million euros issued.
Source: Adif AV
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