Acea prepares a 9-10 year bond. Between next Monday and Wednesday the multi-utility will hold a roadshow in the squares of Frankfurt, Paris and London with the object of a senior unsecured bond issue, which could also be structured in two tranches, at a fixed and floating rate.
In recent days, Acea's Board of Directors had authorized the issue of one or more bonds for a maximum amount of one billion euro, to be carried out by 15 July.
A manager quoted by the Reuters agency explains that the roadshow should be followed by the launch of a fixed-rate bond for a benchmark amount, with a 9- or 10-year maturity, to which a second floating-rate tranche could be added depending on the feedback from investors , at 5 years, of the expected amount of 300 million.
Acea will be joined by Bnp Paribas, Citi, Credit Agricole Cib, Deutsche Bank and Societe Generale Cib. The issuer is rated Baa2 by Moody's and BBB+ by Fitch, both with a stable outlook.
