Grupo Antolin issues €390 million in senior secured notes with an interest rate of 3.5%



Grupo Antolin issues €390 million in senior secured notes with an interest rate of 3.5%

2021-06-15

Grupo Antolin has successfully completed a 7-year senior bond issue for €390 million with an annual interest rate of 3.5%.

The Company will use the proceeds of the new bond to fund the early redemption of the approximately €385 million of bonds maturing in 2024. Grupo Antolin confirms its strong financial position extending the maturity of senior bond by 4 years until 2028.

In May, the company reached an agreement with its lenders to modify the syndicated loan and revolving credit facility extending its maturity for three years until 2026. New senior bond issue and the loan facility gives more flexibility to the financial structure of the company in the long run.

Investors were particularly impressed by the solid results of the company and its efficient financial management to face the COVID-19 pandemic as well as its long term strategy to take advantage of the transformation of the automotive industry given more value to its product portfolio.

As a result of its good financial management and the improvement of its credit metrics in 2021, Moody's upgraded the corporate rating of Grupo Antolin to B2 from B3 this week. At the same time Moody's assigned a B2 rating to Grupo Antolin's €390 million senior secured bond issue.

The transaction has been led and executed by Deutsche Bank, a strategic partner of Grupo Antolin having led all the company issues in the bond market since its first issue in 2014.

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