Spanish Gas TSO Lands Low-rate Bond
Spanish gas transmission system operator Enagas has held a €500 ($587)mn euro bond issue maturing in 2032 and with an annual coupon of 0.375%, it said October 27. The company, which did not have significant maturities until 2022, said it took advantage of "favourable market conditions to finance itself at a historically low rate and advance refinancing."
Not only was it the lowest interest rate achieved by a Spanish company for a term of 10 years or more but it is also the lowest interest rate reached by a utility for an issue in euros for that term, it said.