SUCCESSFUL PRICING OF A NEW 10-YEAR BOND ISSUE OF €700 MILLION
Infra Park announces the successful pricing of a new 700 million euros bond issue with a 10-year maturity (due April 2028). The bond bears a fixed coupon of 1.625%.
The settlement of the offering is expected to take place on April 19th, 2018, once the prospectus has received the visa of the French Financial Market Authority (Autorité des Marchés financiers) (AMF). The notes will then be admitted to trading on Euronext Paris.
The order book was over 1.4 billion euros accounting for an oversubscription of more than twice the issue, which confirms the market's confidence in the long-term robustness of Infra Park's business model.
As announced in the press release published on April 4th, 2018, the proceeds of the offering will be used for general corporate purposes and refinancing of existing indebtedness. Infra Park intends to exercise the make whole call on 100% of its 2020 notes of 500 million euros and to reimburse the shareholder loan of 100 million euros granted by its parent Infra Foch Topco. The make whole redemption notice of the 2020 bond should be released on the settlement date of this new issue.
Infra Park is rated BBB/Stable and the new bond issue is rated BBB (rating by Standard & Poor's).
HSBC and SG CIB acted as Joint Global Coordinators and Joint Bookrunners, BNP Paribas and NatWest Markets as Joint Bookrunners for the bond offering.
|Contact analysts/ investors:
Tel.: +33 1 49 03 15 65
Cell: +33 7 88 96 06 09
Claire Lise Beaurenault
Tel : +33 1 49 03 12 79
Cell: + +33 7 50 68 30 64
About Infra Park
Infra Park, which owns in particular INDIGO Infra, INDIGO® weel and OPnGO, is a key global player in car parking and urban mobility, which manages more than 2.3 million parking spaces in 15 different countries. In 2017, Infra Park revenues and EBITDA amounted to €897.5 million and €310.0 million respectively (Global Proportionate figures).
Infra Park is indirectly held at 49.2% by investment funds managed by Ardian, 49.2% by Crédit Agricole Assurances, and the remainder by the employees and management of the Group.
THIS PRESS RELEASE IS AN ADVERTISEMENT AND NOT A PROSPECTUS AND NOT AN OFFER OF SECURITIES FOR SALE TO U.S. PERSONS OR IN ANY JURISDICTION, INCLUDING IN OR INTO THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA. PERSONS INTO WHOSE POSSESSION ANY DOCUMENT OR OTHER INFORMATION REFERRED TO HEREIN COMES, SHOULD INFORM THEMSELVES ABOUT AND OBSERVE ANY SUCH RESTRICTION. ANY FAILURE TO COMPLY WITH THESE RESTRICTIONS MAY CONSTITUTE A VIOLATION OF THE SECURITIES LAWS OF ANY SUCH JURISDICTION. NEITHER THIS PRESS RELEASE NOR ANYTHING CONTAINED HEREIN SHALL FORM THE BASIS OF, OR BE RELIED UPON IN CONNECTION WITH, ANY OFFER OR COMMITMENT WHATSOEVER IN ANY JURISDICTION.
A joint stock corporation with a capital of 160,044,282 euros
Headquarters: 4, place de la Pyramide – Immeuble Ile de France – Bâtiment A
92800 PUTEAUX LA DÉFENSE
800 348.146 RCS Nanterre