Successful €750 million issue of 6-year eurobonds
20. 4. 2018
On 19 April 2018, EP Infrastructure (“EPIF”) successfully placed its debut international offering of €750 million 1.659% fixed rate notes due 2024.
The transaction was well received by institutional investors and the final books reached €1.3 billion with orders from 129 accounts (1.7x oversubscribed), clearly demonstrating the Group’s strong credit profile.
Through this bond issuance, EPIF has been able to benefit from the current favorable conditions in the international debt capital markets in order to partially refinance its existing bank loans at the EPIF level and extend its debt maturity profile, while reducing the average cost of its borrowings.
With this transaction, EPIF achieved the best pricing outcome (spread over mid-swap levels) among CEE corporate issuers in the 5-7 year tenor range in the past three years.
Citi, J.P. Morgan, SG CIB and UniCredit Bank were the Joint Global Coordinators and Joint Bookrunners, with Banca IMI, Bank of China, Erste Group, ING Bank and SMBC Nikko also acting as Joint Bookrunners.
About EP Infrastructure
EPIF is a leading European energy infrastructure utility focused on gas transmission, gas and power distribution, heat and power generation and gas storage. With principal operations in the Slovak Republic and the Czech Republic, EPIF is a unique European entity with a large and diversified portfolio of strategically important infrastructure assets. Measured by EBITDA, the Group is among the five largest industrial groups based in the Czech Republic.
- EPIF controls the Eustream gas transmission pipeline, the largest gas corridor for deliveries of Russian gas to Western, Central and Southern Europe.
- The Group is an important gas and electricity distributor in the Slovak Republic and is the leading distributor of heat to final consumers in the Czech Republic.
- EPIF holds the largest gas storage capacity in the region of Slovakia, Czech Republic and Austria.
|Exchange: Irish Stock Exchange plc trading as Euronext Dublin||Target market: MiFID II professionals / ECPs only|
|Ticker symbol: ENAPHO||ISIN Code: XS1811024543|
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