Strabag issues US$131.8million corporate bond

Austrian construction company Strabag SE has issued a US$131.8million (€100million) corporate bond. The fixed-interest bond has a term to maturity of seven years and a coupon of 4.25 % per annum. A Strabag spokesperson said the bond issue had already been met with great interest among institutional investors. It is also available for subscription to Austrian, German and Luxembourgian private investors until 8 May, 2012. With a face value of US$1,318 (€1,000), the bond is targeted not only at institutional
May 3, 2012 Read time: 2 mins
Austrian construction company 1300 Strabag SE has issued a US$131.8million (€100million) corporate bond.

The fixed-interest bond has a term to maturity of seven years and a coupon of 4.25 % per annum.

A Strabag spokesperson said the bond issue had already been met with great interest among institutional investors. It is also available for subscription to Austrian, German and Luxembourgian private investors until 8 May, 2012.

With a face value of US$1,318 (€1,000), the bond is targeted not only at institutional investors but above all at private investors in Austria. The issue price has been set at 101.45.

The Strabag spokeserpson added: “With the Strabag Bond 2012, the company is continuing its years-long bond issue strategy. With the proceeds from the issue, which will be used for general business purposes, Strabag achieves a further improvement of the financing structure.”

Joint lead managers of the bond issue are 5424 Raiffeisen Bank International AG and 5425 UniCredit Bank Austria AG. The international ratings agency Standard & Poor’s (S&P) proposes an investment grade with a rating of BBB- for the Strabag 2012 bond.

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