Search filter
Tags
Tags
Back

Alpine successfully completes 90 million euro bond issue

10/06/2011

Alpine successfully completes 90 million euro bond issue

FCC's Austrian subsidiary Alpine has placed 90 million euro in bonds (5.25% coupon) among private and institutional investors. Strong demand among private investors led Alpine to increase the issue from the initial 75 million euro to 90 million euro.

Alpine successfully completes 90 million euro bond issue

According to Dietmar Aluta-Oltyan, Chairman of Alpine, this new issue "demonstrates not only the confidence of traditional investors, but also the importance of the capital markets for the company's funding." The funds, which will be used for organic growth, also enable Alpine to diversify its funding sources and extend its debt maturities.

This operation is part of FCC's strategy to diversify its funding sources. Last week in Barcelona, the Shareholders' Meeting of FCC, whose principal shareholder is Esther Koplowitz, authorised the issuance of non-convertible bonds at one or more times for up to 1.5 billion euro.

Alpine's issue today is the group's third in the last eighteen months: it issued 450 million euro in the second half of 2009 and 100 million euro in June 2010 (the latter by Alpine).