Q-Park Intl
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Q-Park is excited to share that it has successfully priced €550 million in high yield fixed rate notes, marking a significant step in its strategic plan to fortify the capital structure and position itself for future growth.This bond issuance, rated BB- by S&P and Ba3 by Moody's, reflects investor confidence in Q-Park's business model and it ties well into Q-Park’s financial strategy and commitment to maintaining a robust financial foundation. The issue was well received in capital markets with investors’ orders substantially oversubscribing the transaction. The proceeds from this refinancing will be used to refinance the existing €400m Floating Rate Notes due 2026 alongside the €90m privately placed debt due 2025, to pay for transaction cost and for general corporate purposes. Q-Park is grateful for the support from the global coordinators—Bank of America, NatWest, and KKR Capital Markets—, the joint bookrunners ING Bank and Rabobank, the legal counsel Simpson Thacher Bartlett (STB), our auditors Deloitte and all other parties that supported on the dealwhose expertise and partnership were instrumental in the success of this transaction.Sibert Houben, CFO of Q-Park comments:“This transaction is priced in line with our €430 million issuance in January, despite the fact that swap rates are significantly higher than in January. It highlights the sustained strong confidence that the capital markets have in the resilient business model of Q-Park which is supported by continued structural demand with highly predictable cashflows and underpinned by long term contracts and real asset ownership.”https://lnkd.in/g-zCechn
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Q-Park Intl
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Acquisition of Britannia Parking Group Ltd (UK) q-park.comWe are delighted to confirm the completion of the acquisition of Britannia Parking Group Limited. Read more: https://lnkd.in/eFkaZBVT
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Q-Park Intl
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The latest Q-Park Highlights, including Moody's rating upgrade, info on Mobility Hubs and parking during the Olympic Games in Paris France, are published and can be found here - https://lnkd.in/eQE4t9KQ.
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Q-Park Intl
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Annual CSR Report 2023 | Q-Park csr2023.q-park.comQ-Parkpublished its annualCSR Report 2023. This year’s report is structured around our CSR Strategic Framework including a double materiality analysis from which we have defined our key sustainability matters, our ambition and three focus areas. This framework also supports our process to being CSRD compliant over our Annual Report 2025.
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Q-Park Intl
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A sustainable society: that's what we aim for.We devise mobility solutions in cooperation with partners and make our parking facilities sustainable. Keeping cities liveable and accessible for everyone! https://lnkd.in/gwV96GJD
Q-Park Sustainability Story https://www.youtube.com/
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Q-Park Intl
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Pricing announcement of €430 million Senior Secured Notes q-park.comQ-Park is pleased to announce that it has successfully issued €430 million of 5.125% senior secured fixed rate notes due 2029 at an issue price of 100.000%. The issue was well received in capital markets with investors’ orders substantially oversubscribing the transaction. Concurrently with the Offering on 8 January, the Company announced an invitation to holders of Eligible Notes to tender any and all of their Eligible Notes for purchase. The proceeds from the new offering are expected to be used to: (i) pay for the 1.500% Notes due 2025 validly tendered by the Company; (ii) satisfy and discharge the Company’s and the guarantors’ obligations in respect of any remaining 1.500% Notes due 2025 not validly tendered; and (iii) pay fees, costs and expenses incurred in connection with the foregoing.Sibert Houben, CFO of Q-Park comments:“This transaction is the tightest EUR-denominated BB-rated bond issuance since January 2022. It highlights the sustained strong confidence that the financial markets have in the resilient business model of Q-Park which is supported by continued structural demand with highly predictable cashflows and underpinned by long term contracts and real asset ownership.” For more information:https://lnkd.in/eNywkfAk
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Q-Park Intl
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Q-Park Highlights (interactive), including Q-Park Centrum Mobility Hub in The Hague and the Q-Park Student Award 2023, can be downloaded or checked online for more detail. URL: https://lnkd.in/efNRHR2R#QPark, #mobilityhubs, #mobilitytransition, #parkingsolutions
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