(Finance) – The total principal amount of the new bond Webuild is equal to 450 million euros with a subscription price equal to 98.982% of their nominal value. The maturity date of the New Bonds is September 27, 2028 and the related annual coupon is 7%.
The results achieved with this new operation – explains the company in a note – have shown a strong appreciation of Webuild by the national and international financial community, with a interest received from over 100 investors, and a request equal to approximately 2 times the offer, which made it possible to reduce the final rate applied compared to the initial launch rate. Demand from international investors took on particular importance, over 85% of the total, coming mainly from the United Kingdom, France and Germany.
The issuance of the New Bonds allows Webuild to manage with significantly advance the next major debt maturity corporate, expected in October 2024. The operation, in fact, contributes to optimizing the corporate debt profile, extending its average duration.
The New Bonds will be reserved exclusively for qualified investors, with the exclusion of placement in the United States of America and other selected countries, and will be intended to be listed on the Global Exchange Market of the Dublin Stock Exchange (Euronext Dublin).
The issuance of the New Bonds is scheduled for September 27, 2023 and the purchase of the 2024 Bonds and the 2025 Bonds for which the Company accepts the Tender Offer is scheduled for September 29, 2023.