Ansaldo Energia, an Italian group and an international leader as a suppler, installer and service provider for power generation plants and components. mandated Banca Imi, BnpParibas , Credit Agricole, Hsbc and Unicredit for a European roadshow estarting tomorrow May 18th to sound ground for a new 300 million euros bond issue with a 5-7 years maturity.
Proceeds from the bond will be used by Ansaldo Energia to tender up to 250 million euros in nominal amount of its 420 million euros bond listed on the Luxembourg Stock Exchange as the company explained in a press release yesterday.
The existing bond, issued in April 2015, is maturing on April 28th 2020 and pays a 2.875% fixed coupon. Price was up to 105.715 yesterday in Luxembourg. Ansaldo Energia is supported by Allen & Overy law firm for the deal.
Ansaldo Energia is controlled with a 44.8% stake by Cdp Equity (former Fondo Strategico Italiano) and with a 40% stake by Chinese group Shanghai Electric, with Leonardo still owning a 15% stake. Leonardo had already agreed to sell its stake to Cdp Equity by the end of this year.
Ansaldo Energia closed its FY 2015 consolidated statement with 900.9 million euros in revenues (from 1.127 billions in 2015), 95 million euros in ebit (from 106.2 millions), 9.67 millions in net results (from 4.34 millions) and a 345.1 mmillion euros of net financial debt (from 299.6 millions).