APRR Tightens Pricing On 6-Year Bond To Swaps 3.40-3.45
January 12 2012 - 5:45AM
Dow Jones News
French toll road company Societe des Autoroutes Paris-Rhin-Rhone
(ARR.FR), also known as APRR, tightened its price guidance on its
EUR500 million six-year bond, one of the banks leading the sale
said Thursday.
Previously set in the area of 350 basis points over midswaps,
guidance is now between 340 and 345 basis points over midswaps.
Books on the issue are over EUR2.5 billion, although the bond
isn't expected to be upsized, one of the banks on the deal
said.
Credit Agricole SA, BBVA, Lloyds Banking Group, Mitsubishi
Banking Group, Natixis, Banco Santander SA, Societe Generale SA and
Royal Bank of Canada are lead managers on the deal.
The bond is rated Baa3 by Moody's Investors Service Inc. and
BBB- by Standard & Poor's Corp.
-By Serena Ruffoni, Dow Jones Newswires; +44 (0) 207 842 9349;
serena.ruffoni@dowjones.com
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