July 17, 2018 / 1:01 PM / 5 months ago

NET4GAS issues CZK 2.64 bln 2025 bond in refinancing deal

PRAGUE, July 17 (Reuters) - Czech gas pipeline operator NET4GAS has issued a 2.64 billion crown ($119.43 million) bond due in 2025 in a deal to refinance outstanding debt, the company said on Tuesday.

It said investors in the paper swapped out of a 2021 bond via the exchange and tender offer managed by Ceska Sporitelna, the Czech unit of Austria’s Erste Group Bank .

The new bond has a fixed coupon of 2.75 percent and was priced 75 basis points above mid-swaps.

The outstanding amount of the 2.25 percent 2021 bond dropped to 4.35 billion crowns. ($1 = 22.1050 Czech crowns) (Reporting by Jan Lopatka Editing by Jason Hovet)

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