July 4, 2018 / 4:37 PM / 3 months ago

Atlantia secures 1.75 bln euro 5-yr loan to refinance Abertis deal

MILAN, July 4 (Reuters) - Italy’s Atlantia said on Wednesday it secured a five-year loan worth 1.75 billion euros ($2 billion) to refinance the acquisitions of Spain’s Abertis and Germany’s Hochtief, a deal sealed with builder ACS and aimed at creating the biggest motorway operator in the world.

The Italian group initially intended to issue a bond to refinance the acquisitions but it shelved the project in May due to turbulences on the financial markets as a new anti-establishment government was being formed.

The new loan was agreed with Banco BPM, BNP Paribas, state lender Cassa Depositi e Prestiti, Intesa Sanpaolo , Mediobanca and UniCredit.

The total average cost of all the funding since the announcement of the investment in the Spanish motorway group is around 1.3 percent, with a remaining average term to maturity of 5.5 years. ($1 = 0.8592 euros) (Reporting by Francesca Landini, editing by Giulia Segreti)

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