Chicago, Oct. 5 – Ceske Drahy, as priced its inaugural green bond (Baa2) on Wednesday, according to a market source.
The company priced €500 million of 5 5/8% bonds at 99.347 to yield 5.779%, or at 300 basis points above mid-swaps. Pricing came on top of talk in the 300 bps area.
The size was set at €500 million without the potential for an upsize. Books went above €675 million.
The notes come with a potential make-whole call at Bunds plus 25 bps and then a three-month par call.
The Regulation S notes listed Erste Group, ING and UniCredit (billing and delivery) as joint global coordinators with Societe Generale joining as a joint bookrunners.
Societe Generale coordinated the roadshow in the Sept. 19 week.
Erste Group and ING are the joint green structuring advisers.
The issuer is a Prague-based railway operator.
| Issuer: | Ceske Drahy, as
|
| Amount: | €500 million
|
| Issue: | Green bonds
|
| Maturity: | Oct. 12, 2027
|
| Bookrunners: | Erste Group, ING, UniCredit, Societe Generale
|
| Coupon: | 5 5/8%
|
| Price: | 99.347
|
| Yield: | 5.779%
|
| Spread: | Mid-swaps plus 300 bps
|
| Call features: | Make-whole call at Bunds plus 25 bps; three-month par call
|
| Trade date: | Oct. 5
|
| Settlement date: | Oct. 12
|
| Ratings: | Moody’s: Baa2
|
| Distribution: | Regulation S
|
| Price talk: | Mid-swaps plus 300 bps area
|
| Marketing: | Roadshow
|
| ISIN: | XS2495084621
|
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