The offer to repurchase Gas Natural Fenosa bonds reaches the 915.5 million mark, and improves the average life and cost of its debt

  • The offer to repurchase GAS NATURAL FENOSA bonds, maturing between 2019 and 2023, has seen a demand in excess of 915 million euros.
  • The repurchased bonds had an average coupon rate of 4.54%
  • This transaction, together with the issue made on 16 January for a total of 850 million at 10 years and with a coupon rate of 1.5%, allows the average life to continue increasing and future financial costs to decreas

The offer to repurchase GAS NATURAL FENOSA bonds, made on 16 January, ended today and reached the target set by the company.

Specifically, the offer, maturing between 2019 and 2023, has had a 915.5 million-euro demand, which has been repurchased in full. The repurchased bonds had an average coupon rate of 4.54%

The issue made by GAS NATURAL FENOSA on 16 January for 850 million euros at 10 years and with a coupon rate of 1.5% will increase the average life of the repurchased debt in approximately 6.9 years.

On the other hand, the outstanding balance of the GAS NATURAL FENOSA bonds under the EMTN programme (following the predicted maturity in January and February 2018) amounts to 10.04 billion euros, with an average coupon rate of 2.72%.

“All these actions make it possible to substantially increase the average life of the debt and reduce its future financial cost, in line with the financial policy established by GAS NATURAL FENOSA”, explained the Chief Financial Officer of the company, Carlos J. Álvarez.

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