Strabag Issues € 100m Corporate Bond
Proceeds will be used for general business purposes and the further improvement of the financing structure of the Austrian construction company.
The Austrian construction company Strabag SE is preparing to issue a € 100m corporate bond. The fixed-interest bond has a term to maturity of seven years and a coupon of 4.25 % p.a. The bond issue has already been met with great interest among institutional investors and will also be offered for subscription to Austrian, German and Luxembourgian private investors from 4 May 2012 to 8 May 2012 (subject to early closing).
With a face value of € 1,000.00, the bond is targeted not only at institutional investors but above all at private investors in Austria. The issue price has been set at 101.45. With the Strabag Bond 2012, the company is continuing its years-long bond issue strategy. With the proceeds from the issue, which will be used for general business purposes, Strabag achieves a further improvement of the financing structure.
Joint lead managers of the issue are Raiffeisen Bank International AG and UniCredit Bank Austria AG; senior co-lead managers are Erste Group Bank AG, Joh. Berenberg, Gossler & Co. KG, Vienna branch, Oberbank AG, RLB Lower Austria – Vienna and RLB Upper Austria; co-lead manager is Allgemeine Sparkasse Oberösterreich Bankaktiengesellschaft. The international ratings agency Standard & Poor’s (S&P) proposes an investment grade with a rating of BBB- for the Strabag 2012 bond.