Abertis Infraestructuras S.A. has announced the launch of a new hybrid instrument (up to €500 million indicative amount, subject to market conditions). The company plans to use the proceeds to refinance a hybrid instrument of a similar amount, the first call date being in November 2025. We assigned our ?BB? issue rating to Abertis? proposed hybrid bond to reflect its subordination and optional deferability; we assess the proposed security as having intermediate equity content until its first reset date. MADRID (S&P Global Ratings) May 14, 2025--S&P Global Ratings today said it assigned its ?BB? issue rating to the optionally deferrable and subordinated €500 million hybrid capital securities to be issued by Abertis Infraestructuras Finance B.V. and guaranteed by Abertis Infraestructuras
