By Lisa Kerner
Charlotte, N.C., Dec. 1 – Fluxys Belgium privately placed €350 million of bonds with 40 institutional fixed-income investors in seven countries following a roadshow on Nov. 20.
Total market appetite for the issue reached more than €700 million, according to a company news release.
The debt placement is split between two tranches:
• A €250 million 15-year tranche priced at 2.802%, or 140 bps over mid-swaps, and maturing November 2029; and
• A €100 million 20-year tranche priced at 3.29%, or 168 bps over mid-swaps, and maturing November 2034.
Proceeds will be used to refinance a retail bond issued in 2009 that matures in 2015.
BNP Paribas, ING, Belfius Bank and Credit Agricole CIB acted as joint bookrunners.
The bonds will be settled through the securities settlement system of the National Bank of Belgium and will be listed on Euronext Brussels on Nov. 27.
Fluxys is the independent operator of the natural gas transmission system in Belgium. The company is based in Brussels.
| Issuer: | Fluxys Belgium
|
| Issue: | Bonds
|
| Amount: | €350 million
|
| Distribution: | Private placement
|
| Settlement date: | Nov. 27
|
| Bookrunners: | BNP Paribas, ING, Belfius Bank, Credit Agricole CIB
|
|
|
| Tranche 1
|
| Amount: | €250 million
|
| Coupon: | 2.802%
|
| Maturity: | November 2029
|
| Spread: | 140 bps over mid-swaps
|
|
|
| Tranche 2
|
| Amount: | €100 million
|
| Coupon: | 3.29%
|
| Maturity: | November 2034
|
| Spread: | 168 bps over mid-swaps
|
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