Press release

HOCHTIEF closes syndication of Euro 15 billion bank facility for proposed acquisition of ABERTIS

Essen
21.11.2017

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN PART) IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

  • Substantial oversubscription of more than 65 %
  • Successful syndication with 17 domestic and international banks

HOCHTIEF Aktiengesellschaft (“HOCHTIEF”) today announced that the financing facility for the proposed acquisition of ABERTIS Infraestructuras, S.A. (“ABERTIS”) has been successfully syndicated at very competitive rates. The facility comprises Euro 15 billion and had been underwritten by J.P. Morgan prior to the announcement of the offer for ABERTIS.

J.P. Morgan Securities PLC, Commerzbank Aktiengesellschaft, HSBC Bank plc, Mizuho Bank, Ltd and Société Générale Corporate & Investment Banking acted as bookrunners.

The facility was quickly and successfully syndicated to a group of domestic and international banks, with a total of 17 lenders participating in the syndication process and leading to a substantial oversubscription of more than 65 %.

On October 23, 2017 the rating agency S&P had affirmed HOCHTIEF’s BBB investment grade rating in relation to the ABERTIS transaction.

“We are very pleased with the rapid syndication process and the strong commitment from domestic and international banks. It clearly underlines the full support for HOCHTIEF’s proposed acquisition of ABERTIS”, said Marcelino Fernandez Verdes, CEO of HOCHTIEF.

Disclaimer on forward-looking statements
This press release contains statements that constitute forward-looking statements, beliefs or opinions, including statements relating to the business, financial condition and results of operations of HOCHTIEF and the industry in which HOCHTIEF operates. These statements may be identified by words such as “expectation”, “belief”, “estimate”, “plan”, “target”, or “forecast” and similar expressions or the negative thereof; or by the forward-looking nature of discussions of strategy, plans or intentions; or by their context. All statements regarding the future involve known and unknown risks and uncertainties and various factors could cause actual future results, performance or events to differ materially from those described or implied in these statements. Such forward-looking statements are based on numerous assumptions regarding HOCHTIEF’s present and future business strategies and the environment in which HOCHTIEF expects to operate in the future. Further, certain forward-looking statements are based upon assumptions of future events which may not prove to be accurate and neither HOCHTIEF nor any other person accepts any responsibility for the accuracy of the opinions expressed in this document or the underlying assumptions. Past performance is not an indication of future results and past performance should not be taken as a representation that trends or activities underlying past performance will continue in the future. The forward-looking statements in this document speak only as at the date of this document and HOCHTIEF and its affiliates expressly disclaim any obligation or undertaking to review or release any updates or revisions to these forward-looking statements to reflect any change in HOCHTIEF’s expectations with regard thereto or any change in events, conditions or circumstances on which any statement is based after the date of this document or to update or to keep current any other information contained in this document or to provide any additional information in relation to such forward-looking statements, unless required to do so by applicable law.