The offer to repurchase Gas Natural Fenosa bonds reaches the 1 billion mark, and improves the average life and cost of its debt

  • The offer to repurchase GAS NATURAL FENOSA bonds, maturing between 2018 and 2021, has seen a demand in excess of 1.2 billion euros.
  • The repurchased bonds had an average coupon rate of 5.14%.
  • This transaction, together with the issue made on 28 March for a total of one billion at 7 years and with a coupon rate of 1.125%, allows the average life to continue increasing and future financial costs to decrease.

The offer to repurchase GAS NATURAL FENOSA bonds, made on 28 March, ended today and reached the one billion euro target initially set by the company.

Specifically, the offer, maturing between 2018 and 2021, has had a demand in excess of 1.2 billion euros, forcing a proration to adjust it to the initial offer of one billion euros. The repurchased bonds had an average coupon rate of 5.14%..

The issue made by GAS NATURAL FENOSA on 28 March for one billion euros at 7 years and with a coupon rate of 1.125% will increase the average life of the repurchased debt in approximately 5 years.

On the other hand, the maturity of the GAS NATURAL FENOSA bonds in 2017 amounts to 1.1 billion, with an average coupon rate of 4.94%. These maturities were covered in January 2017 with an issue of 1 billion euros at 10 years, with a coupon rate of 1.375%.

All these actions have made it possible to substantially increase the average life and reduce the future financial cost of the debt, in line with the financial policy established by GAS NATURAL FENOSA and in order to achieve the objectives of its 2016-2020 Strategic Vision.

Compartir