Autostrada Brescia issues first bond under new Italian project law

Autostrada Brescia 230x150
By Richard Metcalf
13 Mar 2015

Autostrada Brescia Verona Vicenza Padova has issued the first public bond to benefit from a recent Italian project bond law, a €600m five year secured transaction.

The bond is not in fact a project bond - the proceeds can be used for general corporate purposes, including paying off bank debt. It is more like a five year corporate bond, and is rated BBB-/BB+ by Standard & Poor's and Fitch.

However, the bond is secured on ...

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