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Adif AV achieves a 1.5 billion euro bond issue with record demand

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Adif Alta Velocidad (Adif AV) has made an outstanding bond issue for 1,500 million euros in two tranches, at 5 and 10 years, achieving historic figures.

The operation, designed to diversify its investor base and meet debt maturities, attracted record demand of 9.5 billion euros, oversubscribing 6.3 times the amount allotted. This is the largest volume of orders received since the creation of Adif AV.

The EUR 650 million 5-year bond offers an annual coupon of 3.125%, while the EUR 850 million 10-year bond has a coupon of 3.625%. Both spreads over the Treasury improved compared to previous issues. International participation was key, representing 71% and 75% in the 5 and 10-year tranches, respectively.

At the same time, Adif AV reinforces its commitment to sustainability by signing three loans linked to environmental objectives for a total of 500 million euros. These operations are conditional on savingCO2 emissions on its railway lines, with a target reduction of more than two million tonnes by 2028.

With this success, Adif AV consolidates its position as a benchmark in sustainable financing and a leading issuer of green bonds.

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