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News Channel
25/02/2020
COMMUNICATION

Sacyr Concessions issues a bond in Chile for 317 million euros

  • The issue has been well received in the local market with 30% excess demand, which reflects investors’ confidence in the company's strategy and the development of the Group.
  • The funds raised will be used to refinance the Ruta del Algarrobo concession.

Emisión bonos Chile

Sacyr Concessions has successfully closed a bond issue in Chile for $350 million (317 million euros, approximately) at historic rates to refinance the Ruta del Algarrobo concession. 

The issue has been well received in the Chilean market, with an excess demand of 30%, which reflects investors’ confidence both in the Company’s strategy in Chile and in the positive expected development of the Group's business. 

The bonds will earn fixed annual interest of 3% during their 25 year life. The operation was coordinated by the investment banks BTG Pactual and Santander.

The funds will be used to refinance the Ruta del Algarrobo concessionaire, in which Sacyr Concesiones has an interest. This 187-kilometer highway will connect the cities of La Serena and Vallenar (in the Atacama and Coquimbo Regions).

Sacyr in Chile

In 2019, Sacyr carried out two bond issues in Chile which were very well received, drawing demand of 2.5x.

The presence of Sacyr in Chile goes back to 1996, when the first contract was awarded to build and operate the Los Vilos-La Serena highway, at the beginning of the Concession System.

Since then, it has invested about 6,600 million dollars in various projects, 2 airports, 14 of which are concessioned routes that represent over 1,500 km of roads. In terms of hospital infrastructure, 6 hospitals have been awarded, totaling more than 2,400 beds and almost 568,000 m2.