The board of directors of Highways (Atlantia group) has authorized the issuance of one or more new ones bond loans, non-convertible, by 31 December 2015, for a total amount of 1,5 billion euros.
I motorway bonds, which may be executed in one or more tranches, may be listed on one or more regulated markets and will be the subject of a public subscription offer aimed at the general public in Italy.
The board of Highways further ruled that i bond they must have one duration not exceeding 8 years and may be at a fixed, variable or mixed rate.
The issuance of Autostrade bonds it is aimed at financing new development programs for the motorway group and also at contributing to maintaining a balanced financial structure in terms of the ratio between short and medium/long-term debt, diversifying funding and acquiring resources at competitive costs.
With the new bonds, the Autostrade per l'Italia board of directors also aims to repay the intercompany loans with Atlantia in advance with the aim of extending the average duration of the debt, but also of retaining a large number of investors.
