Cintra makes 30 billion peseta rights issue to continue expansion as infrastructure and transport promoter in Spain and abroad

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Cintra makes 30 billion peseta rights issue to continue expansion as infrastructure and transport promoter in Spain and abroad

Grupo Ferrovial and Agromán will underwrite Cintras rights issue. This Company was formed by both firms for the tendering and management of transport infrastructure concessions, from highways to parking lots, airports, ports, etc. The influx of funds will bring 30 billion pesetas into the company, allowing Cintra to continue its strategy of growth and expansion in transport infrastructure promotion projects in Spain and international markets. This operation increases Cintras shareholder funds to 62,898 million pesetas.

The increase will be backed in its entirety by Grupo Ferrovial, which will provide 67%, and by Agromán, which will provide the remaining 33% (9,726 million pesetas). The resources will be assigned to finance Cintras participation in the Costa del Sol highways under construction , in the Spanish Artxanda Tunnel concessions (Vizcaya), and in section 2 of the future M-45, as well as in the Santiago-Talca Highway, in Chile, and in the concession of Mexicos nine airports.

Financing of two Chilean highways

Over the last few months in Chile, Cintra has closed the financing of two sections of Route 5 of the Pan-American Highway: the Talca-Chillán axis and the Temuco-Río Bueno. In the case of the first, the concessionaire issued long-term bonds in local currency with a value of US$ 150 million (22 billion pesetas), the first operation of this kind carried out on the Chilean financial market. The financing of the Temuco-Río Bueno section followed. This was done through a syndicated loan in local currency, in which the main Chilean financial institutions participated, with a value of US$ 193 million (28,400 million pesetas).

This strong bet on transport infrastructure tendering and promotion has allowed Cintra to consolidate itself as one of the leading groups on the international playing field. During recent months, Cintra has increased its presence in the area of highways and parking lots, which have been reinforced by its entrance into airport management. This growth and consolidation strategy in the markets has provided an influx of new resources with which to continue investing in Spain and abroad.

Growth in highways, parking lots, and airports

Cintra participates in the management of thirteen toll highways totalling 1,216 km. in Spain and Latin America, and continues tendering processes in Europe, Latin America, North America, and South Africa. In Spain, it participates in the management of six highways; three in operation, one under construction (Costa del Sol Highway), and two in the design phase, the Artxanda Tunnel and a section of the M-45. In Chile, Cintra is the principal concessionaire of the Pan-American Highways Route 5, where it manages four highway sections, with a total investment of more than US$ 1.500 billion (225 billion pesetas), which are completed by three other sections in Colombia.

Through the companies ESSA, Ferrovial Aparcamientos, and Dornier, Cintra manages more than 120,000 parking spaces in the main cities of Spain and Portugal. In the last two years, it has invested more than 20,000 million pesetas. Lastly, Cintra has completed its promotional slant with the concession of nine airports in Mexico, which will be followed by future investments in other international airports.


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