FCC initiates contacts to refinance Environment subsidiary bond for €600 million

FCC2

Link Securities | FCC (FCC) has initiated contacts with financial institutions and investors to refinance the bond of its Environment subsidiary for an amount of 600 million euros that matures next December, as reported on Monday by the newspaper elEconomista.

The construction and services group is exploring different alternatives given the current market circumstances, with the rise in interest rates as the main conditioning factor. The first option is to issue a new bond. The other option is to resort to sustainable bank financing.

FCC is also tackling the refinancing of the debt of FCC Servicios Medio Ambiente Holding with the focus on the growth of the division, which specialises in waste collection and treatment. The company plans to undertake investments of around €1.9 billion in the period 2022-2025, with positive forecasts for contract renewals. Of this amount, €500-700 million will be allocated to new projects, including recently awarded projects and an extended investment plan for the Lostock waste-to-energy plant in the UK.

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