The stock exchange week opens in sharp contrast for the Astaldi share, which gains more than one and a half percentage points in mid-morning, while the Ftse Mib travels down by about 1%. The news of a new one triggered the purchases of the general contractor's shares committed by a billion Canadian dollars (almost 700 million euros).
Through the subsidiary Astaldi Canada, the company has signed a contract for the construction of civil works related to the Muskrat Falls hydroelectric plant. The signing of the agreement, explains the Italian group, "follows and completes the selection by Nalcor Energy of Astaldi as executor of the project which took place on 10 October". Astaldi “is preparing to start construction works by the end of the year for a duration of approximately four years”.
The contract "involves the construction of a power plant - continues the note -, the execution of the connected water intake and return works and is part of a wider development project which, upon its completion, will equip the plant of Muskrat Falls with a capacity of over 820 Megawatts”.
The Muskrat Falls hydroelectric plant “also includes a dam on the Churchill River for a total length of approximately 750 meters, combined with the future plant on Gull Island, is part of the Lower Churchill Project, the largest hydroelectric power generation project in the North America, still to be developed and with a potential capacity of 3 megawatts”.
The contract, concludes the company, "also includes an option for the construction of the dam and related works, the amount of which is currently being negotiated".
The first price indication for the 101,5 million euro reopening of the December 102 bond announced this morning by Astaldi was also set at between 100 and 2020, for a yield between 6,76% and 6,85% The Thomson Reuters Ifr service reports it.
The senior unsecured bond dated 1 December 2020 was placed last week by Astaldi for an amount of 500 million, priced at par with an annual coupon of 7,125%.
The offer of the additional bonds, whose pricing is expected within the day, is managed by Bnp Paribas, Banca Imi, Bbva, Credit Agricole, Credit Suisse, Deutsche Bank, Hsbc, Ing, Natixis and Unicredit. The new bonds, adds Ifr, have an expected rating of B1 by Moody's and B+ by S&P and Fitch.
