Chicago, April 5 – Czech Gas Networks Investments Sarl sold €500 million of 7/8% notes due March 31, 2031 (BBB+/BBB+) at 99.81, according to a listing document.
The notes can be redeemed with a make-whole premium before Dec. 31, 2030, and they have a par call after that date. The make-whole premium will be based on the relevant Bund plus 20 basis points.
Joint bookrunners for the offering were Citigroup, Societe Generale CIB and UniCredit Bank.
Proceeds will be used for partial refinancing of acquisition facilities under the facilities agreement used in acquiring Czech Grid Holdings, a.s. and for general corporate purposes.
The Regulation S notes will be listed on Euronext Dublin.
The gas distribution company based in the Czech Republic.
| Issuer: | Czech Gas Networks Investments Sarl
|
| Issue: | Notes
|
| Amount: | €500 million
|
| Maturity: | March 31, 2031
|
| Bookrunners: | Citigroup, Societe Generale CIB and UniCredit Bank
|
| Trustee: | Citicorp Trustee Co. Ltd.
|
| Coupon: | 7/8%
|
| Price: | 99.81
|
| Yield: | 0.895%
|
| Call features: | Make-whole redemption at Bunds plus 20 bps until Dec. 31, 2030; thereafter at par
|
| Trade date: | March 29
|
| Settlement date: | March 31
|
| Ratings: | S&P: BBB+
|
| Fitch: BBB+
|
| Distribution: | Regulation S
|
|
|
© 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.
