Spain: Enagas Completes Bond Issue

Enagás has tapped its 20 September issue to raise €250 million on the market. By maintaining the annual coupon at 4.25%, but pricing the bonds at 102.83%, the real cost is 3.615%, 68 basis points lower than the original issue.

Enagás has carried out the tap issue to seize a window in the market following the positive reaction to the €500 million issue of 5-year 4.25% bonds of 20 September priced at 99.801%.

Meanwhile, Enagás’ €500 million 4.375% 2015 bond issue carried out in 2009 is still outstanding. The company also has a €147.5 million private placement with the Japanese subsidiary of the US insurance company AFLAC.

In May this year, Enagás renewed its Euro Commercial Paper programme for up to €1,000 million registered with the Irish Stock Exchange.

The placement was made via the company’s subsidiary Enagás Financiaciones S.A.U, with a guarantee from Enagás, S.A. and Enagás Transporte S.A.U.

[mappress]
LNG World News Staff, October 22, 2012; Image: Enagás