Salini Impregilo : Salini Impregilo’s new bond issue: the cherry on the Progetto Italia cake
The group has launched the issuance of a new seven-year non-call life bond of at least € 250m. It is concurrently offering holders of the 2021 € 600m bond to exchange their notes for new bonds based on a ratio of a bond tendered for 1.0475 new bonds. All proceeds raised in addition to the exchange offer will go to repay bank debt, which reflects positively on the group’s disciplined financial policy. - The exchange offer stands just 0.5pts below the make-whole price of 105.25% but...Salini Impregilo is engaged in the water segment. Co. is organised according to the distribution of its activities into its various segments: Corporate, which is engaged in the coordination and supervision of Impregilo S.p.A.'s main investments; Construction, which consists of the business headed by Impregilo S.p.A.; Concessions, which consists of the business coordinated by Co.'s subsidiary, Impregilo International Infrastructures B.V. (the Netherlands) and carried out through subsidiaries, jointly controlled entities and associates; as well as Engineering & Plant Construction, which consists of the business headed by FISIA Italimpianti and FISIA Babcock Environment (Germany).
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