21 April 2020
Elia Transmission Belgium’s first bond issuance since corporate reorganisation
Elia Transmission Belgium has successfully launched a €800 million Eurobond under its new €3 billion EMTN programme listed on the Euro MTF of the Luxembourg Stock Exchange.
The €800 million senior bond will mature in 2030 and has an annual fixed coupon of 0.875%.
The proceeds from the new bond issue will be used to refinance an existing €496 million shareholders loan that will mature in 2020 and to finance the grid investment plan in Belgium.
The transaction highlights Elia’s strong standing in the international capital markets, being 8.5 times oversubscribed and attracting demand from 330 investors from 32 countries.
Through this transaction, Elia Transmission Belgium has taken advantage of supportive market conditions to proactively manage its liquidity position and reduce its average cost of debt to the benefit of consumers.
BNP Paribas, ING, KBC and Rabobank acted as Joint Bookrunners for this transaction.
The instrument is rated BBB+ with a stable outlook by Standard & Poor’s, based on Elia Group’s rating , as Elia Transmission Belgium is assessed as core to Elia Group by Standard & Poor’s.