Watercraft Capital EUR 1.4 billion bond issue admitted to trading on Luxembourg Stock Exchange regulated market

FIRST BOND SUPPORTED BY THE EUROPEAN INVESTMENT BANK AS PART OF ITS PROJECT BOND INITIATIVE

05-8-2013 — /EuropaWire/ — On 2 August 2013, the Luxembourg Stock Exchange will admit to trading on its regulated market a bond issue from Watercraft Capital that is the first bond supported by the European Investment Bank as part of its Project Bond Initiative.

The proceeds of the EUR 1.4 billion bond will be used as funding for the Castor project, a strategically important project aiming to store gas underground off the Spanish coast and to assist in ensuring Spain’s energy supply. The European Investment Bank provided a EUR 200 million liquidity line in order to ensure a better rating for the issue. It will also purchase EUR 300 million of the bonds as an anchor investor.

The bond matures in 2034 and has an annual coupon of 5.756%, payable semi-annually, and was issued at par.

Watercraft Capital is a Luxembourg-registered special purpose vehicle that will on-lend the bond proceeds to Spanish company Escal, which in turn will use them for the refinancing of the project.

The Project Bond Initiative is a joint initiative by the European Commission and the European Investment Bank. Its objective is to stimulate capital market financing for large-scale infrastructure projects.

About the Luxembourg Stock Exchange (LuxSE)
The Luxembourg Stock Exchange is the leading exchange for the listing of international securities. It offers a high quality and efficient listing service that meets the needs of international capital markets and their participants.

The long experience of the LuxSE in international securities combined with its established listing procedures attract a very wide range of issuers and financial instruments. Currently, the Luxembourg Stock Exchange has around 42,000 quotation lines, including some 28,000 related to bonds. These come from 3,000 issuers in 100 countries.

The Luxembourg Stock Exchange operates two markets: an EU regulated market, called the “Bourse de Luxembourg” market, and the Euro MTF, an exchange-regulated market. All securities are tradable on NYSE Euronext’s UTP platform.

The LuxSE also operates a specialist subsidiary, Fundsquare (www.fundsquare.net.) that provides services to substantially support and standardise cross-border distribution of investment funds.
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