With 750 million euros, Cepsa closes the most important bond problem in its historical past | EUROtoday

Cepsa has closed efficiently a brand new bond problem for an quantity of 750 million euros within the largest operation of this kind within the historical past of the corporate, which has thus returned to the capital markets after 4 years.

In a press release, the vitality firm highlighted that the quantity was increased than earlier emissions by the broad overdemandwhich “highlights the strong attractiveness of the company from an investment point of view”, in response to Europa Press.

Specifically, the group led by Maarten Wetselaar has closed the operation with an annual coupon of 4.125% and with a maturity in April 2031. In addition, the problem introduces an innovation by combining it with a partial repurchase of its bond maturing in February 2025.

This operation is closed days after Cepsa acquired endorsements from the score businesses S&P and Fitch for its enterprise prospects and credit score profile.

The firm, whose capital is managed by the Abu Dhabi sovereign fund Mubadala Investment and the Carlyle Group, has had the recommendation of HSBC, Santander and SMBC as international coordinators of the operation and of BBVA, BofA Securities and HSBC for the supply of partial repurchase of its bond maturing in February 2025.

Since July 2020, the corporate had not gone to the capital markets, when it positioned 500 million in senior debt with a time period of 5 and a half years, in what was its third problem in simply over a 12 months.

Cepsa indicators that la emisinwhich might be admitted to official itemizing and buying and selling on the regulated market of the Irish Stock Exchange, will assist you to “strengthen your liquidity position and diversify its financing sources, while increasing the average maturity of its debt.

The energy is converted with this operation into the first Spanish company in the sector to access the bond market in 2024and the second in Europe. Likewise, it reinforces its capital structure and supports the investment plan of its 'Positive Motion' transformation strategy, with which it aims to become a European benchmark in the production of green hydrogen, 2G biofuels and in the deployment of a network of chargers. ultrafast electrics.

The Financial and Strategy and Sustainability Director at Cepsa, Carmen de PabloI emphasize that the The success of this bond issue “displays the assist of the funding neighborhood for the corporate's transformation technique.”with which it aspires to be a benchmark in the energy transition, and its confidence in its business prospects for the coming years.

Likewise, the value of the operation allows the group to diversify its financing sources to reinforce its liquidity position, which allows the company “to comfortably assume their debt commitments and funding plans.”