©Reuters. Sacyr and Fininc issue a bond of 518 million euros in Italy
Rome, Jan 20 (.).- The SIS consortium, made up of 49% by the Spanish company Sacyr (MC:) and 51% by the Italian Fininc, reported today that it has issued a bond of 518 million euros to finance With these resources, the concession of the Italian highway A3, which connects Naples with Salerno, in the south of the country.
The Spanish bank Santander (MC:) and the American JP Morgan (NYSE:) have been coordinators of this placement, which matures in 2045 and has an approved rating (BBB) by the credit rating agency Fitch, it is read in the notice.
To finance the concession, the consortium also has bank debt of 90 million euros subscribed with the Italian Banco BPM (MI:).
The A3 motorway is a very relevant infrastructure at the national level, as it has an average daily intensity of close to 90,000 vehicles and an accumulated annual total of 1.69 million vehicles per kilometre.
The highway foresees a revenue portfolio of 2,700 million over 25 years and requires an investment of 390 million euros.
Sacyr considers Italy as a crucial market in its 2021-2025 strategic plan and for SIS this is the second concession project in the country, where it already has a portfolio of income from assets of this type of more than 17,000 million euros.
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