Prosegur today set the terms of an issue of ordinary obligations (bonds) in the Euromarket, for a total nominal amount of EUR 700 million, with the maturity date of 8 February 2023. The issue has been oversubscribed by almost five times. Prosegur´s carried out its inaugural issue in 2013 for an amount of 500 million euros and maturity date in April this year.

The notes will be issued for a price of 99.560% of their nominal amount and will accrue an annual coupon of 1.000% payable annually in arrears. The closing of the issue is expected to occur on 8 February 2018, subject to compliance with conditions which are standard for an issue of this kind. An application will be made for the notes to be admitted to trading on the regulated market of the Irish Stock Exchange.

Through this issue, Prosegur will extend its average debt maturity profile, looking to benefit from the current market conditions. The funds obtained with the notes are aimed to be used for general corporate purposes.

The company has an investment grade rating, BBB, stable outlook granted by Standard & Poor’s.

Source: PROSEGUR (see the entire post)