{
  "id": 6730673,
  "title": "Cox issues $800 million in hybrid debt for institutional investors",
  "url": "https://urgent.news/2026/09/11/cox-emite-800-millones-de-dolares-en-deuda-hibrida-para-inversores",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-11T08:46:08.000Z",
  "source": {
    "name": "Expansion ES",
    "slug": "expansion-es",
    "url": "https://www.expansion.com/empresas/energia/2026/09/11/6aa3bfbf468aebcb4f8b4590.html"
  },
  "original_language": "es",
  "account": "Cox Asset México, a subsidiary of Cox Infrastructure Group, has issued 800 million dollars of hybrid capital, equivalent to 688 million euros. The issue, aimed at international institutional investors, was oversubscribed with demand exceeding 2,500 million dollars. The hybrid capital, with a perpetual and subordinated nature, will have an initial annual coupon of 8.75% and a first redemption option for the issuer from September 17, 2031. The funds will mainly be used to repay a 733 million dollar loan used to refinance the acquisition of Iberdrola México, which was completed in the second quarter. Citi, Goldman Sachs, and Scotiabank were the global coordinators and placement entities.",
  "summary": "Cox Asset México, a subsidiary of Cox Infrastructure Group, has launched a hybrid capital issue worth 688 million euros ($800 million), aimed at international institutional investors.",
  "key_points": [
    "Cox Infrastructure Group issues $800M hybrid debt to institutional investors.",
    "First non-financial Spanish company to issue dollar-denominated hybrid debt.",
    "Offering received $2.5B demand, indicating three-fold oversubscription."
  ],
  "editors_take": "This issuance cements Cox's ability to tap demanding markets and diverse investor bases, while gaining flexibility to manage its debt obligations through the hybrid instrument's perpetual and early amortization features.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}