By Wendy Van Sickle
Columbus, Ohio, July 30 – EP Infrastructure AS priced €600 million of seven-year senior bonds (Baa3/BBB/BBB-) to yield mid-swaps plus 185 basis points, or 1.698%, according to a notice filed with the London Stock Exchange.
Pricing came tighter than guidance that was for mid-swaps plus 195 bps, plus or minus 5 bps, and initial talk in the mid-swaps plus 220 bps area.
Citigroup (billing and delivery), HSBC, ICBC Standard Bank, Societe Generale and UniCredit are bookrunners of the Regulation S deal.
The transaction was oversubscribed multiple times with order books in excess of €2.3 billion at the time final terms were released.
The proceeds from the notes are earmarked for repaying debt and for general corporate purposes.
The Prague-based company is an energy infrastructure company operating primarily in the Slovak Republic and the Czech Republic.
| Issuer: | EP Infrastructure AS
|
| Issue: | Bonds
|
| Amount: | €600 million
|
| Coupon: | Mid-swaps plus 185 bps
|
| Yield: | 1.689%
|
| Maturity: | 2026
|
| Bookrunners: | Citigroup (billing and delivery), HSBC, ICBC Standard Bank, Societe Generale and UniCredit
|
| Pricing date: | July 23
|
| Settlement date: | July 30
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB
|
| Fitch: BBB-
|
| Distribution: | Regulation S
|
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