Brisa Auto-Estradas de Portugal SA has created a €400 million portfolio
for the
securitization of
future receivables against tariffs to be
collected at the
motorways it operates, according to
Thomson Financial.
Brisa said in a releases that the proceeds from the
securitization of
the future toll revenues will go toward refinancing its short-term
debt. The company also said that it has assigned the portfolio to local
financier Tagus, who will issue €400 million of asset-backed floating
rate
securitization notes due in 2012, which are expected to trade on
the Irish stock exchange.