HOCHTIEF successfully issued a EUR 750 million corporate bond in two tranches. The first tranche amounting to EUR 500 million has an 8-year maturity and a coupon of 0.5% p.a., providing a yield of 0.596% to investors at the time of issuance. The second tranche amounting to EUR 250 million has a 12-year maturity and a coupon of 1.25% p.a., providing a yield of 1.287% to investors at the time of issuance. With this bond issuance at favorable terms, HOCHTIEF was able to achieve a substantial extension of its long-term debt maturity profile. S&P has awarded the bond with a solid BBB investment-grade rating.
The HOCHTIEF corporate bond was met by broad interest among investors leading to a substantial oversubscription in the order book. The issuance proceeds will be used for general corporate purposes and the refinancing of the EUR 750 million bond due in March 2020.
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