ALX 0.18% $5.50 atlas arteria

News: ALX Atlas Arteria Announces Chicago Skyway Refinancing Update

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    Oct 12 (Reuters) - Atlas Arteria Group (ALX) :

    • CHICAGO SKYWAY REFINANCING UPDATE
    • CHICAGO SKYWAY HAS PRICED US$155M OF INCREMENTAL BONDS VIA US PRIVATE PLACEMENT (USPP) MARKET
    • CHICAGO SKYWAY HAS ALSO REACHED AGREEMENT ON PRICING FOR REFINANCING AND UPSIZING OF EXISTING BANK FACILITIES
    • FINANCIAL CLOSE AND SETTLEMENT OF BONDS AND BANK FACILITIES IS EXPECTED IN MID/LATE OCTOBER
    • NEW 10-YEAR US$155M USPP BOND WITH A FIXED ALL-IN COUPON OF 6.47%, WHICH REPRESENTS A 190BP MARGIN TO 10-YEAR US TREASURY YIELD
    • AS AT FINANCIAL CLOSE, TOTAL DRAWN DEBT AT CHICAGO SKYWAY WILL INCREASE FROM US$1.39BN TO US$1.54BN
    • TRANSACTION IS EXPECTED TO ENABLE CAPITAL RELEASES FROM CHICAGO SKYWAY TO ITS INVESTORS OF US$174M
 
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