- The company took advantage of current market conditions, including low interest rates.
- The bond is eligible for the European Central Bank's corporate sector purchase programme (CSPP).
Madrid, 07/09/2016.- Taking advantage of the current market conditions with low interest rates, Ferrovial today successfully priced a 500 million euro 6-year senior bond. The issue was priced at 52 basis points over midswap, with a coupon of 0.375%. Ferrovial will use the funds in corporate general purposes. The order book was very diversified, and the deal was extremely well received by international investors. More than 70% of the issue was placed outside Spain, primarily in Germany and France. The bond is eligible for the European Central Bank's corporate sector purchase programme (CSPP), which targets qualifying investment-grade euro-denominated bonds issued by non-bank companies established in the Euro area. Ferrovial successfully completed two 500 million euro 3.375% bond issues in January 2013 (5 years) and May 2013 (8 years). In 2014, it issued a 300 million euro 10-year bond paying a 2.5% coupon. Fitch and Standard & Poor’s maintained an investment grade rating for Ferrovial's corporate debt: BBB, outlook stable.