Voestalpine to Issue Corporate Bonds of € 1.0bn
The Austrian steel company voestalpine is said to plan a bond program of € 1.0bn.
The Vienna-listed steel group plans to issue corporate bonds of up to € 1.0bn, „Börse-Express“ reports. The program would enable voestalpine to issue hybrid bonds and debentures in several tranches.
The joint lead managers should be Credit Agricole Corporate and Investment Bank. Already in 2011, voestalpine initiated such a bond program together with Erste Group and Raiffeisen Bank International.
According to a spokesman at voestalpine, there are no concrete investment plans at the moment. „By issuing a corporate bond, we can react faster and more flexible.“ Peter Felsbach said. The program would be a provision. In summer, there are no investments planned. Last year, voestalpine used only € 500m of its € 1.0bn bond program.