Gamesa prepares EUR 250m bond issue - report

(SeeNews) – Oct 16, 2013 – Spanish wind turbine maker Gamesa (MCE:GAM) will place shortly a high-yield bond issue of up to EUR 250 million (USD 338.2m), business daily Expansion said today.

The papers will mature in five or seven years, and they will be rated below BBB-, the paper added, noting though that none of the rating agencies had made this official, yet.

Gamesa is working with Barclays and City to prepare the issue aimed at alleviating the company's bank debt.

The company closed the first half of 2013 with a net financial debt of EUR 620 million.

(EUR 1.0 = USD 1.353)

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