Atlas Arteria has announced that its Autoroutes Paris-Rhin-Rhône (APRR) venture has successfully priced €500 million of bonds under its euro medium term note program. Atlas Arteria is a global owner, operator and developer of toll roads, creating value through active management. APRR manages toll road infrastructure in France.
The bonds have a term of six years and will mature on January 20, 2032. According to the announcement, the proceeds from the issuance will be used for general corporate purposes at APRR. This provides the company with additional financial flexibility.
The bonds were priced on January 8 at 99.366 per cent of par with a coupon of 3.125 per cent. The pricing represents a margin of 63 basis points over mid-rate swaps, resulting in a yield to maturity of 3.243 per cent for the investors. This reflects market confidence in the venture.
The bonds will rank equally with APRR’s existing bonds on issue, ensuring consistent treatment for all bondholders. This move is a part of APRR’s ongoing financial strategy and capital management activities within the broader Atlas Arteria group.
