EP Infrastructure, a.s. successfully signs new term facilities agreement, raising combined financing sufficient for repayment of EP Energy, a.s. bonds
24. 5. 2019
On 21 May 2019, EP Infrastructure, a.s. (“EPIF”) signed a new EUR 265 million term facilities agreement. The facilities are unsecured and rank pari passu with other financial indebtedness of EPIF and have a six and seven year term.
Bank of China (Hungary) Close Ltd., acting through Bank of China (Hungary) Close Ltd., Prague branch, odštěpný závod, Komerční banka, a.s., SMBC Bank EU AG, and UniCredit Bank Czech Republic and Slovakia, a.s. acted as mandated lead arrangers and bookrunners, with UniCredit Bank AG, London Branch acting as Agent.
EPIF intends to use the proceeds of the new facilities to refinance the bonds issued by EP Energy, a.s. that mature in the fourth quarter of 2019 (the “2019 EPE Bonds”).
In combination with the recently announced successful issue of the privately placed EUR 70 million floating rate notes due April 2027 and EUR 182.5 million issue of Schuldschein with a five and seven year term, the utilisation of the facilities is to result in EPIF raising up to EUR 517.5 million since the beginning of 2019, thus securing sufficient funding to repay the 2019 EPE Bonds well ahead of their maturity.
Gary Mazzotti, vice chairman of the board of directors of EPIF, stated: “The ability of EPIF to secure sufficient sources for the 2019 EPE Bonds repayment, and the continued diversification of the financing sources available to EPIF, confirms our ability to deliver in line with the financing strategy we have presented to market and stakeholders”.
This success is further strengthened by the affirmed ratings of all three major rating agencies recently announced by EPIF.
EP Infrastructure, a.s. is an issuer of EUR750,000,000 1.659% notes due 2024, ISIN: XS1811024543.
EP Infrastructure, a.s.
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This press release is for information purposes only and does not constitute a prospectus or any offer to sell or the solicitation of an offer to buy any security in the United States of America or in any other jurisdiction. No securities have been registered under the U.S. Securities Act of 1933, as amended (the “Act”), and no securities may be offered or sold in the United States or to a U.S. person absent registration or an applicable exemption from the registration requirements under the Act.