Abertis Infraestructuras, Spain's largest concession and toll-road operator and one of the global sector leaders, has launched a new 7-year benchmark EUR obond.

This EUR 1bn transaction is its first transaction launched since the 10-year EUR 1bn bond launched in July 2007. Due to the good name of the issuer, the quality of the orderbook was excellent and the majority of the orders were allocated to buy-and-hold investors.

The book was almost ten times oversubscribed at the original price whisper. Proceeds will be used to reinforce its solid liquidity position, for general corporate purposes, and to repay existing lending facilities.