JAN
Pursuant to the Conces- sion Agreement, the Chi- cago Skyway increased passenger vehicle tolls by 20%, raising them from $2.50 to $3.00. The Greek government transferred the section of the Ionian Roads that is already in operation allowing the concession company to start collec- ting tolls on the section. The 407-ETR toll road re- fi nanced the debt matu- ring in 2008 through two separate bond issues. The fi rst one was through a senior bond issue for 250 million Canadian dollars with maturity in January 2011 and a fi xed coupon of 4.50% and the second one was through a subordinated bond issue for 300 million Canadian dollars maturing in January 2011 with a fi xed coupon of 5%.
FEB
The 407 ETR toll road started to apply new toll rates. For the fi rst time rate will vary based not only on the time of day (peak/off-peak hours), but also on the specifi c section of the highway. The new toll rates represent an increase of 9.4% at peak times for the Regular Zone (Highways 401 and 404), 8.0% at peak times in the Light Zone (rest of the highway) and 7.1% at off-peak times. Ionian Roads, in which Cintra holds a 33.34% interest, closed the syndi- cation of €400.9 million in senior debt.
MAR
The SH-130 Concession Company, in which Cintra holds 65%, closed deals for US$1.358 billion in fi nancing for the construction and operation of segments 5 and 6 of Texas SH 130 through a US$430 million loan (with $45.5 million in capitalized interest during the construc- tion phase) granted by the US Department of Transportation (TIFIA), a $685.8 million bank loan and a $197 million capital contribution from the consortium partners based on the equity stake held. Additionally the company has set aside a $65 million allowance to cover expropriations and provide additional liquidity.
APR
The Indiana Toll Road began to apply a 20% increase in the tolls for heavy freight vehicles. Electronic tolls have been implemented on the entire highway. This month also marked the beginning of the subsidi- zed period during which the Indiana Finance Authority (IFA) will sub- sidize the increase in toll rates for class 2 vehicles (dual axle light vehicles) using a transponder. The subsidies will run until 20 June 2016.
The Vila do Mouros connection was inaugu- rated. This section runs 5 km between Viana do Castelo and Vila Nova de Cerveira and marks the conclusion of the re- furbishment of the Note Litoral toll roads on the Portuguese coast.
MAY
New contracts were awarded for regulated parking services (ORA) in Pozuelo de Alarcón, (Madrid) with a total of 3,354 spaces. The contact is for 10 years and is extendable for an additional 2 years.
JUN
Cintra closed the refi - nancing of the existing short-term debt in the concession company Au- tema, substituting it for a long-term loan for €292 million. Additionally, Cin- tra fi nancially structured its interest in Vía Rápida Autema, allowing for an extraordinary distribution of €316 million.
JUL
Cintra, working jointly with National Express Limited, was awarded a 5-year contract for the management of the parking and bus services at the London Stansted Airport. The contract is for 28,363 parking spaces distributed among 6 different types of parking facilities at the airport. Inauguration de la Lagoa / Ribera Grande Expres- sway on the North-South section of Euroscut zores in compliance with the contract deadline. (23 July).
Start of works on the South section of Euroscut Azores.
NOV
The allocation of the scrip issue took place from the 6th to the 20th of the month. The new shares started trading on 8 December.
DEC
Cintra was awarded the concession for the parking at the Vigo Air- port. The contract covers the management of a total of 1,137 off street parking spaces and has a term of one year that is extendable for two equal periods.
JAN 09
The 407-ETR toll road announced the refi nan- cing of all of the debt maturing within the year through two separate bond issues. The fi rst issue, for C$300 million matures in 2012 and was issued at a 4.65% coupon, while the second issue, for C$200 million matures in 2014 with a coupon of 5.10%. The Radial 4 extended the terms and conditions of the €556.6 million fi nancial package for a period of two years. The consortium led by Cintra (90%) was awar- ded the DBFO contract (design, build, fi nance and operate) for the A1 toll highway in Poland. The 180 km highway is part of the Trans- European North-South Motorway (TEM). The concession period is 35 years from the signing of the contract and the total investment is bud- geted at €2.1 billion. The proposal presented by the consortium led by Cintra was selected by the Texas Transportation Commission as the “Best Value Proposal” for the construction, maintenan- ce and operation of 21.4 km (13.3 miles) of the North Tarrant Express toll highway located in the Dallas-Fort Worth area of Texas (USA).
The Board of Directors has undertaken a study on the possible merger of the company with its majority shareholder Grupo Ferrovial, S.A., which had indicated its interest in studying this strategic alternative, although at this time no specifi c stock swap ratios have been tabled. The study and decision process will be overseen by the Related Party Transaction Committee, which has specifi cally created the “Merger Committee” for this purpose. The Merger Committee shall be comprised exclusively of non-executive directors that do not represent major stockholders and will mostly be indepen- dent directors. Similarly the Board of Directors has decided to appoint the fi nancial ins- titution that will assess the company and issue a “fairness opinion” on the eventual equation for the stock swap as the fi nancial advisor for the entire process. Important factors taken into con- sideration in this desig- nation include the total absence of confl icts of interest and particularly the absence of any sig- nifi cant recent fi nancial or business relationships between the advisor and the Ferrovial group.
FEB 09
The toll rate hikes on the 407 ETR took effect. Light vehicles at peak times will be paying C$0.1985 in the Regular Zone (to the west of Hwy. 400) and C$0.1925 in the Light Zone (to the east of Hwy. 400). The toll rates for off-peak times and weekends on the entire highway for light vehicles will be C$0.18. The new rate schedule also includes a reduction in the video toll for light vehicles, a decline in the monthly rental price for the trans- ponder and a reduction in the fee for the main- tenance of the video toll account. Additionally, a toll will be collected for each trip on the highway based on vehicle class, which for light vehicles will be 25 Canadian cents per trip. The proposal presented by the consortium led by Cintra was selected by the Texas Transportation Commission as the “Best Value Proposal” for the construction, mainte- nance and operation of 27.2 Km of the IH-635 Managed Lanes project located in the metropo- litan area of Dallas Texas (USA).
CINTRA CONCESIONES DE INFRASTRUCTURAS DE TRANSPORTE, S.A. Plaza Manuel Gómez Moreno, 2 Edificio Alfredo Mahou. 28020 Madrid Tel.: +34 91 418 56 00 Fax: +34 91 556 03 38 www.cintra.es INVESTOR AND SHAREHOLDER RELATIONS DEPARTMENT Plaza Manuel Gómez Moreno, 2 Edificio Alfredo Mahou. 28020 Madrid Tel.: +34 900 10 11 38 Fax: +34 91 555 69 98 e-mail: [email protected] [email protected] CINTRA CONCESIONES DE INFRASTRUCTURAS DE TRANSPORTE DE CHILE LIMITADA Avda. Andrés Bello 2711 - 18º. Las Condes. SANTIAGO CHILE Tel.: +562 560 6250 Fax: +562 335 7806 CINTRA CONCESIONES
DE INFRASTRUCTURAS DE TRANSPORTE, S.A. (PORTUGAL OFFICE)
Avda. Duque D’ Avila 46, 8º. 1050-083 LISBOA Tel.: +35 121 351 2150 Fax: +35 121 315 1462 TOLL ROAD WEB SITES: www.407etr.com www.autopistadelsol.com www.autema.com www.autopistamadridlevante.es www.m45.es www.radial4.com www.eurolink-m4.com www.eurolink-m3.ie www.chicagoskyway.org www.cintrachile.com CAR PARKS CINTRA APARCAMIENTOS, S.A. Plaza Manuel Gómez Moreno, 2 Edificio Alfredo Mahou. 28020 MADRID Tel.: +34 91 418 56 00 Fax: +34 91 556 91 27 www.cintraaparcamientos.es REGIONAL OFFICES: NORTH EAST Escocia, 50/58, esc. Dcha. 08016 BARCELONA Tel.: +34 93 243 44 10 Fax: +34 93 243 44 11 ANDALUSIA Isla de la Cartuja, s/n. Edificio Expo. B50. 41092 SEVILLE Tel.: +34 95 448 83 99 Fax: +34 95 448 82 83 BALEARIC ISLANDS AND CANARY ISLANDS Pascual Ribot, 3 - 1º. 07011 PALMA DE MALLORCA Tel.: +34 97 145 32 60 Fax: +34 97 145 17 51 CENTRAL SPAIN Plaza Manuel Gómez Moreno, 2 Edificio Alfredo Mahou. 28020 MADRID Tel.: +34 91 418 57 02 Fax: +34 91 556 91 27 CASTILLA LA MANCHA AND EXTREMADURA Salto del Caballo, 5 - 1º, Oficina 9 45003 TOLEDO Tel.: +34 92 522 52 17 Fax: +34 92 521 19 64 EAST COAST Avda. de Aragón, 25 entlo. 46010 VALENCIA Tel.: +34 96 393 15 46 Fax: +34 96 362 11 43 NORTH
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Tel.: +44 127 968 02 43 Fax.: +44 127 968 02 43 DORNIER, S.A.
Plaza Manuel Gómez Moreno, 2 Edificio Alfredo Mahou. 28020 MADRID Tel.: +34 91 418 56 00 Fax: +34 91 556 91 27 FEMET, S.A. Río Tormes, nave 73. Polígono Industrial El Nogal. 28110 ALGETE. MADRID Tel.: +34 91 628 22 20