Gestamp has taken advantage of favorable market conditions to carry out a €500 million senior secured bond issuance maturing in 2030. The bonds have been assigned ratings of BB by Standard & Poor’s and Ba2 by Moody’s, in line with the company’s corporate rating.
The issuance was announced to the market at the beginning of the week, starting with a first round of investor meetings. The following day, the initial coupon was set at around 5%, later revised downward to a final 4.375%. Strong investor demand enabled the company to reduce the financing cost and successfully close the transaction.
Gestamp entrusted Kutxabank Investment with the role of co-manager, in a deal led by international investment banks Barclays, BNP, and Bank of America. This transaction represents the ninth deal of the year within Kutxabank Investment’s debt capital markets division, in a year of very active market activity despite a highly uncertain environment.
Use of Proceeds
The company will use the funds raised through the issuance to refinance existing financial debt and to strengthen its liquidity position.
Company Description
Gestamp is a multinational company, present in more than 20 countries, specializing in the design, development, and manufacturing of highly engineered metal components for the automotive industry. The company is growing above market levels and has positioned itself as one of the global leaders in hot stamping technology.
In recent years, the group has consistently deleveraged, closing the first half of 2025 at 1.7x Net Debt/EBITDA, with a strong liquidity position. In 2024, the company reported revenues of €12,001 million, EBITDA of €1,294 million, and a margin of 10.8% (11.0% excluding the Phoenix Plan). On the other hand, the company’s ongoing restructuring plan in NAFTA, which has weighed on its operating performance in recent years, is beginning to show improvements. These advances are expected to support margin expansion for the group in the medium term.
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