ASF, a highway subsidiary of VINCI, has issued a 500 million euro bond maturing in January 2034, according to a press release published on January 12. The issue was nearly four times oversubscribed.
ASF has placed a bond issue of 500 million euros maturing in January 2034, the group indicates. The bond carries an annual coupon of 3.375%. The transaction was carried out under the company's EMTN program. According to the press release, this issue allows ASF to extend the average maturity of its debt.
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The issue was nearly four times oversubscribed, the press release specifies. This strong demand reflects, according to the company, the market's confidence in the credit quality of the company. ASF holds a credit rating of A- with a stable outlook from Standard & Poor's, and a rating of A3 with a stable outlook from Moody's. The Bookrunners of the operation are BNP Paribas and Natixis as Global Coordinators, accompanied by BofA Securities, CaixaBank, Commerzbank, NatWest Markets NV, RBC Capital Markets, and Santander.
Operational Context and Company Profile
According to the group, the operation was carried out under excellent conditions given the current market environment. ASF is a subsidiary of VINCI, a global leader in concessions, energy services, and construction. The VINCI group employs 285,000 people in more than 120 countries and focuses on the design, financing, construction, and management of infrastructure and facilities.
Les prises de commandes sont bien orientées, avec un carnet à un nouveau plus haut.
Risks mentioned
Baisse de l'activité en France de -2,0 %.
Perturbations dues aux tensions géopolitiques.
Opportunities identified
Hausse des prises de commandes de 5 % par rapport au 1er trimestre 2025.
Chiffre d'affaires des services à l'énergie en hausse de +4,7 %.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
