APRR pays early visit to corporate bond market

toll road 1
By Nigel Owen
10 Jan 2019

French toll road operator APRR started its funding plans earlier than previous years when it sold a €500m nine year deal on Thursday. Its November deal was its only transaction in 2018, but even in busier years it has waited until May before getting started.

In November 2018, APRR sold a €500m long 11 year trade, and it has traditionally sold benchmark deals in May and November. However, with €1bn of redemptions due in the first quarter of 2019, the A- rated company decided to start its funding earlier in 2019.

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