Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Tenders > Headlines for 2017 > News item |
France’s HIT begins tender for €250 million of 4.875% notes due 2021
By Susanna Moon
Chicago, Nov. 9 – Holding d’Infrastructures de Transport, or HIT, is tendering for a capped amount of its €1.5 billion 4.875% notes due 2021.
Pricing will be set using a purchase yield of negative 0.05% for a purchase price of 119.306%, or €59,652.76 for each €50,000 principal amount, assuming a settlement date of Nov. 27.
Holders also will receive accrued interest to but excluding the settlement date of Nov. 27.
The tender will remain open until 11 a.m. ET on Nov. 16.
The offer is expected to be capped at €250 million principal amount, with the exact amount to be set at 3 a.m. ET on Nov. 15.
HIT plans to hold investor meetings for an issue of new euro-denominated fixed-rate notes with expected maturities between five and 10 years, according to a company announcement.
The tender is contingent on issue of the new notes.
The issuer said it may consider in the allocation of the new notes whether an investor of the new notes plans to tender their notes in the offer.
BNP Paribas (liability.management@bnpparibas.com or +44 0 20 7595), Citigroup Global Markets Ltd. (+44 0 20 7986 8969 or liabilitymanagement.europe@citi.com) and Societe Generale (liability.management@sgcib.com or + 33 1 4213 3240) are the dealer managers.
The tender agent is Lucid Issuer Services Ltd. (+ 44 20 7704 0880, fax + 44 20 3004 1590 or hit@lucid-is.com).
Holding d’Infrastructures de Transport builds and maintains toll roads and is based in Issy Les Moulineaux, France.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.