CIMIC Group has successfully issued a EUR500 million corporate Eurobond with eight years maturity.
The fixed rate notes were priced at a yield of 1.593% and were met with broad interest among investors, leading to an oversubscription of the orderbook of more than two times.
CIMIC Group Executive Chairman and Chief Executive Officer Juan Santamaria said: “This successful transaction represents CIMIC’s debut issue in the European Debt Capital Markets and achieves a substantial extension of CIMIC’s long-term debt maturity profile.”
The issuance proceeds will be used for general corporate purposes including the refinancing of existing bank facilities.
Moody’s and Standard & Poor’s will award the bond with solid, investment-grade ratings of Baa2 and BBB- respectively.
CIMIC Group is rated Baa2 (Stable) and BBB- (Stable) by Moody’s and Standard & Poor’s respectively.