Fluxys Belgium raises €350 million in bond placement
Fluxys Belgium, operator of the Zeebrugge LNG terminal, has arranged a private placement of bonds with a value of €350 million.
Total market appetite reached over €700 million, which confirms the confidence of institutional fixed income investors in Fluxys Belgium’s credit and the key role of the Belgian natural gas grid as crossroads for Northwestern Europe.
To refinance the retail bond issued by Fluxys Belgium in 2009 and which matures in 2015, Fluxys Belgium went on an extensive pan-European roadshow with Europe’s largest fixed income investors. On the basis of very positive feedback received during the roadshow, Fluxys Belgium raised €350 million from more than 40 investors in seven countries.
Despite the large number of new bonds that were brought to the market on 20 November, the investors showed a lot of appetite for the bond as there was over €700 million of demand. The private debt placement is split between two tranches.
The transaction was managed by BNP Paribas and ING as coordinating banks and joint bookrunners, and by Belfius Bank and Crédit Agricole CIB as joint bookrunners.
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/27112014/fluxys-raises-funds-through-bond-placement-1868/
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