Ashurst advises Pedemontana Veneta on €1.57 billion bond issue
International law firm Ashurst has advised Superstrada Pedemontana Veneta S.p.A. on a €1.57 billion bond issue to finance the construction of the Pedemontana Veneta toll road.
The bond issue, which closed on the 29 November 2017, is divided into two tranches: €1.221 billion, variable Rate (EONIA +1% undrawn, 5% drawn) Senior Secured Amortizing Notes due 2047; and €350 million 8% Subordinated Secured Notes due 2027 . Both tranches are listed on the Irish stock exchange in Dublin.