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Vienna - 18 June 2007. The EUR 75 million STRABAG SE corporate bond issued by lead managers Erste Bank der oesterreichischen Sparkassen AG and Raiffeisen Zentralbank Aktiengesellschaft together with other co-lead managers was three times oversubscribed already before the end of the book-building phase reserved for institutional investors.
The bond issue also was a success with the general public during the official subscription period from 12-14 June as the attractive key data resulted in rave demand from private investors. The success of the bond issue confirms STRABAG's strategy of also targeting private investors.
The issue is STRABAG's sixth corporate bond so far and represents a continuation of the company's years-long bond strategy. The proceeds from the bond issue will be used to pay back the EUR 50 million bond issued in 2002 as well as for general operational objectives. The issue will further contribute to the continued improvement of the company's financing structure.
Key data of the bond issue
Issuer | STRABAG SE | Principal amount | Nominal value of EUR 75,000,000 | Face value | EUR 500 | Coupon / interest rate | 5,75 % p.a. | Issue price | 100,535% | Term / value date | 5 years payable at term / 18 June 2007 | Maturity date | 18 June 2012 at par | |
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STRABAG SE is one of Europe's leading construction groups. With about 58,000 employees, STRABAG expects to post revenue of around EUR 11 billion in the ongoing financial year. From its core markets Austria and Germany, STRABAG is present via its numerous subsidiaries in all countries of Eastern and South-East Europe, in selected markets in Western Europe and the Arabian Peninsula, as well as in Canada, Chile and India. STRABAG's activities span the entire construction industry (Building Construction and Civil Engineering, Road Construction, Services) and cover the entire value-added chain in the field of construction. More information is available at www.strabag.com
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