FCC Aqualia has priced two bond issues, whose proceeds will be used in part to pay down FCC Group debt, which currently stands at €5,063 million.
The bond issues will be for €700 million ($789 million) with annual remuneration of 1.413 per cent, and maturity in 2022, and €650 million with annual remuneration at 2.629 per cent, and maturity in 2027.
“With this operation, FCC Group has made substantial progress in its policy of financial optimisation, as well as the re-ordering of the remaining bank debt. The company will continue to reduce costs and expenses for greater efficiency, and will maintain a strict requirement for profitability in its new contracts,” said FCC Group chief executive Carlos Jarque.
The bonds will be admitted on the Global Exchange Market of the Irish Stock Exchange.