Antolin has completed an issuance of €250 million worth of senior secured notes, due 2030. The funds obtained will be used to refinance existing bonds due in 2026, also worth €250 million. The new issue has an annual coupon of 10.375%.

This bond issue comes on the heels of Antolin’s recent agreement with creditor banks to extend the maturity of its Senior Facilities Agreement until June 2029. That agreement includes more than €500 million in syndicated debt plus a revolving credit facility.

The two transactions provide additional flexibility and strength to Antolin’s financial structure in the medium term, allowing the company to push ahead with its transformation plan focused on generating long-term profitable growth. The company has no significant debt maturities until 2028.

In parallel, the company will complete the planned divestment plan of €150 million between 2024 and 2025, of which operations for €111 million have already been closed. The objective is to strengthen the balance sheet and reduce debt.

Deutsche Bank acted as bookrunner on the bond issue with the support of HSBC, BNP Paribas, CaixaBank, Santander, BBVA, Société Générale, Bankinter and Banco Sabadell.