WSC is pleased to announce that NorteGas has successfully issued a €550m 10-year bond, which was launched in parallel to a tender offer for the outstanding 2022 bonds.
NorteGas was one of the first corporates to inaugurate the bond market in 2021 and demand was strong. The bonds ended up almost 6x oversubscribed, with a final coupon of 0.905%.
This a clear sign that the market is very supportive of Nortegas’ credit, which underpins the investor community’s belief in the strategic role of gas infrastructure within energy transition.
This refinancing will allow NorteGas to continue pursuing its strategic plan, which has as its key pillars to promote decarbonisation and sustainability.
NorteGas is the second largest gas distribution company in Spain with 8,241 km of gas networks and over one million end-users, which it supplies with natural gas and LPG, in the Basque Country, as well as in Cantabria and Asturias.