Obligation Abertis Infraestructuras 2.25% ( XS2195092601 ) en EUR

Abertis Infraestructuras

92.31 % ▼

Espagne

XS2195092601 ( en EUR )

2.25% par an ( paiement annuel )

29/03/2029

Prospectus brochure de l'obligation Abertis Infraestructuras XS2195092601 en EUR 2.25%, échéance 29/03/2029

100 000 EUR

900 000 000 EUR

29/03/2025 ( Dans 312 jours )

L'Obligation émise par Abertis Infraestructuras ( Espagne ) , en EUR, avec le code ISIN XS2195092601, paye un coupon de 2.25% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 29/03/2029

PROHIBITION OF SALES TO EEA AND UK RETAIL INVESTORS  The Notes are not intended to be
offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any
retail investor in the European Economic Area ("EEA") or in the United Kingdom (the "UK"). For these purposes,
a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1)
of Directive 2014/65/EU (as amended, "MiFID II"); or (ii) a customer within the meaning of Directive (EU)
2016/97 (as amended or superseded, "IDD"), where that customer would not qualify as a professional client as
defined in point (10) of Article 4(1) of MiFID II. Consequently no key information document required by
Regulation (EU) No 1286/2014 (the "PRIIPs Regulation") for offering or selling the Notes or otherwise making
them available to retail investors in the EEA or in the UK has been prepared and therefore offering or selling the
Notes or otherwise making them available to any retail investor in the EEA or in the UK may be unlawful under
the PRIIPs Regulation.
MIFID II product governance / Professional investors and ECPs only target market  Solely for the purposes
of each manufacturer's product approval process, the target market assessment in respect of the Notes has led to
the conclusion that: (i) the target market for the Notes is eligible counterparties and professional clients only, each
as defined in MiFID II; or (ii) all channels for distribution of the Notes to eligible counterparties and professional
clients are appropriate. Any person subsequently offering, selling or recommending the Notes (a "distributor")
should take into consideration the manufacturers' target market assessment; however, a distributor subject to
MiFID II is responsible for undertaking its own target market assessment in respect of the Notes (by either
adopting or refining the manufacturers' target market assessment) and determining appropriate distribution
channels.

Final Terms dated 26 June 2020

Abertis Infraestructuras, S.A.

Legal entity identifier (LEI): 549300GKFVWI02JQ5332
Issue of 900,000,000 2.250 per cent. Notes due 29 March 2029 (the "Notes")
under the 12,000,000,000 Euro Medium Term Note Programme
PART A CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the Terms and Conditions (the
"Conditions") set forth in the Base Prospectus dated 18 March 2020 and the supplemental Base Prospectus dated
16 June 2020 which together constitute a base prospectus (the "Base Prospectus") for the purposes of the
Prospectus Regulation. This document constitutes the Final Terms of the Notes described herein for the purposes
of the Prospectus Regulation and must be read in conjunction with the Base Prospectus in order to obtain all the
relevant information.
Full information on the Issuer and the offer of the Notes is only available on the basis of the combination of these
Final Terms and the Base Prospectus. The Base Prospectus and these Final Terms are available for viewing during
normal business hours at, and copies may be obtained from The Bank of New York Mellon London Branch, One
Canada Square, London E14 5AL, United Kingdom. The Base Prospectus has been published on the website of
Euronext Dublin and will be available at: www.ise.ie.
The expression "Prospectus Regulation" means Regulation (EU) 2017/1129 of the European Parliament and of
the Council of 14 June 2017.
1.
Issuer:
Abertis Infraestructuras, S.A.

2.
(i)
Series Number:
10

(ii)
Tranche Number:
1

(iii)
Date on which the Notes Not Applicable

become fungible:
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3.
Specified Currency or Currencies:
Euro

4.
Aggregate Nominal Amount:

(i)
Series:
900,000,000

(ii)
Tranche:
900,000,000

5.
Issue Price:
99.199 per cent. of the Aggregate Nominal Amount

6.
(i)
Specified Denominations:
100,000

(ii)
Calculation Amount:
100,000

7.
(i)
Issue Date:
30 June 2020

(ii)
Interest Commencement Date:
Issue Date

8.
Maturity Date:
29 March 2029

9.
Interest Basis:
2.250 per cent. Fixed Rate

(see paragraph 14 below)

10.
Redemption/Payment Basis:
Subject to any purchase and cancellation or early
redemption, the Notes will be redeemed on the Maturity
Date at 100 per cent. of their nominal amount.
11.
Change of Interest or
Not Applicable

Redemption/Payment Basis:
12.
Put/Call Options:
Change of Control Put Option

Material Asset Sale Put Option

Issuer Call

Residual Maturity Call Option

Clean-up Call Option

(See paragraphs 17, 19, 20 and 21 below)

13.
(i)
Status of the Notes:
Senior

(ii)
Date Board approval for 26 February 2019 and 13 January 2020

issuance of Notes obtained:
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE

14.
Fixed Rate Note Provisions
Applicable

(i)
Rate of Interest:
2.250 per cent. per annum payable in arrear on each
Interest Payment Date

(ii)
Interest Payment Date(s):
29 March in each year, commencing from 29 March
2021 up to and including the Maturity Date.
There will be a short first Interest Period from, and
including, the Issue Date to, but excluding, the Interest
Payment Date falling on 29 March 2021 (the "First
Interest Payment Date")
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(iii)
Fixed Coupon Amount:
2,250 per Calculation Amount, other than in respect of
the interest payment to be made on the First Interest
Payment Date.

(iv)
Broken Amount(s):
1,676.71 per Calculation Amount payable on the First
Interest Payment Date

(v)
Day Count Fraction:
Actual/Actual (ICMA)

15.
Floating Rate Note Provisions
Not Applicable

16.
Zero Coupon Note Provisions
Not Applicable

PROVISIONS RELATING TO REDEMPTION

17.
Call Option
Applicable

(i)
Optional Redemption Date(s) On any Business Day on or prior to 29 December 2028

(Call):

(ii)
Optional
Redemption Make Whole Redemption Price

Amount(s) (Call) of each
Note:

(iii)
Make
Whole
Redemption Non-Sterling Make Whole Redemption Amount

Price:

(a)
Redemption Margin:
0.45 per cent.

(b)
Reference Bond:
DBR 0.25 per cent. 15 February 2029 (ISIN:
DE0001102465)

(c)
Quotation Time:
As determined by the Determination Agent

(iv)
Redeemable in part:
Not Applicable

(v)
Notice period:
Not less than 30 nor more than 60 days' notice

18.
Put Option
Not Applicable

19.
Change of Control Put Option:
Applicable

20.
Residual Maturity Call Option
Applicable

(i)
Notice Period:
Not less than 15 nor more than 30 days' notice

21.
Clean-Up Call Option
Applicable

(i)
Optional Redemption Amount 100,000 per Calculation Amount

of each Note:
22.
Final Redemption Amount of each 100,000 per Calculation Amount

Note
23.
Early Redemption Amount

Early Redemption Amount(s) per 100,000 per Calculation Amount

Calculation
Amount
payable
on
redemption for taxation reasons or on
event of default:
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PART B OTHER INFORMATION

1.
LISTING AND ADMISSION TO

TRADING

(i) Admission to Trading:
Application has been made by the Issuer (or on its behalf)
for the Notes to be admitted to trading on the regulated
market of Euronext Dublin with effect from 30 June
2020.
(ii) Estimate of total expenses 1,000

related to admission to trading:
2.
RATINGS
The Notes to be issued are expected to be rated

Ratings:
S&P Global Ratings Europe Limited ("S&P"): BBB-

An obligation rated 'BBB' exhibits adequate protection
parameters. However, adverse economic conditions or
changing circumstances are more likely to lead to a
weakened capacity of the obligor to meet its financial
commitment on the obligation.

Fitch Ratings España, S.A.U. ("Fitch"): BBB

'BBB' ratings indicate that expectations of default risk are
currently low. The capacity for payment of financial
commitments is considered adequate, but adverse
business or economic conditions are more likely to impair
this capacity.

Each of S&P and Fitch is established in the EEA or in the
UK and registered under Regulation (EU) No 1060/2009,
as amended (the "CRA Regulation").

3.
INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE
ISSUE/OFFER
Save for any fees payable to the Managers, so far as the Issuer is aware, no person involved in

the offer of the Notes has an interest material to the offer. The Managers and their affiliates have
engaged, and may in the future engage, in investment banking and/or commercial banking
transactions with, and may perform other services for, the Issuer and its affiliates in the ordinary
course of business.
4.
REASONS FOR THE OFFER AND ESTIMATED NET AMOUNT OF PROCEEDS

Reasons for the offer:
See "Use of Proceeds" in Base Prospectus

Estimated net proceeds:
889,641,000

5.
YIELD

Indication of yield:
2.353 per cent.

(The yield is calculated at the Issue Date on the basis of
the Issue Price. It is not an indication of future yield.)
6.
OPERATIONAL INFORMATION

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ISIN:
XS2195092601

Common Code:
219509260

Delivery:
Delivery against payment

Clearing System:
Euroclear Bank SA/NV and Clearstream Banking S.A.

Any clearing system(s) other than Not Applicable

Euroclear
Bank
SA/NV
and
Clearstream Banking S.A. and the
relevant identification number(s):

Names and addresses of additional Not Applicable

Paying Agent(s) (if any):

Name of Replacement Agent (if not Not Applicable

the Fiscal Agent):

Relevant Benchmark:
Not Applicable

Intended to be held in a manner Yes. Note that the designation "yes" simply means that
which would allow Eurosystem the Notes are intended upon issue to be deposited with
eligibility:
one of the ICSDs as common safekeeper and does not
necessarily mean that the Notes will be recognised as
eligible collateral for Eurosystem monetary policy and
intra-day credit operations by the Eurosystem either upon
issue or at any or all times during their life. Such
recognition will depend upon the ECB being satisfied that
Eurosystem eligibility criteria have been met.
7.
DISTRIBUTION

(i)
Method of Distribution:
Syndicated

(ii)
If syndicated:

(A) Names of Dealers
Banca IMI, S.p.A.
Banco Bilbao Vizcaya Argentaria, S.A.
Banco Santander, S.A.
BNP Paribas
CaixaBank, S.A.
Crédit Agricole Corporate and Investment Bank
ING Bank N.V.
J.P. Morgan Securities plc
Mizuho Securities Europe GmbH
Morgan Stanley & Co. International plc
Natixis
Société Générale
UniCredit Bank AG

(B) Stabilisation
Société Générale

Manager(s), if any:

(iii) If non-syndicated, name of Not Applicable

Dealer:

(iv) U.S. Selling Restrictions:
Reg S Compliance Category 2; TEFRA D

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(v)
Prohibition of Sales to EEA Applicable

and UK Retail Investors:

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