In 2017, CNA issued €45M in debt securities to finance motorway concession-holders’ investments.
At the same time, it repaid close to €1,325 bn on matured bonds. The reduction of the establishment’s debt thus continued in 2017, ending the year with €3.27 bn in liabilities.
The financing requirement for the year was hedged firstly by means of issues on the bond market. In line with its stock-matching policy, the CNA made a further contribution of its "3.75% -2025" line for an overall par value of € 40 million, bringing its outstanding balance to € 868.26 million.
The CNA also applied for a fifth and final draw of € 5 million on the € 120 million (now fully consumed) financing line taken out by the CNA from the EIB on April 8, 2013 to diversify its sources of financing and financing. have greater flexibility to meet the needs of concession companies.
These loans benefited the two motorway tunnel concession concessionaires Autoroute and Tunnel du Mont-Blanc (ATMB) and the French Fréjus Road Tunnel Company (SFTRF).
In addition, the year was also marked by a regulatory evolution of the CNA. Indeed, since the decree of 14 August 2017, the institution no longer has the capacity to raise on the bond market the resources needed to finance eligible concessionaire companies for more than one year. This ban is consequential to INSEE’s integration in 2014 of the CNA debt into the public debt.
Bond issue 2025 dated April 5th 2017 ?