Macquarie Atlas in $450m equity raising

Macquarie Atlas Roads aims to raise $450 million from investors to help fund the expansion of its stake in a French motorway network.

Macquarie Atlas says it will supplement the proceeds of the underwritten pro-rata accelerated non-renounceable entitlement offer with a 150 million euro ($223 million) debt facility, raising the 450 million euros it needs to increase its stake in APRR from 20.14 per cent to 25 per cent.

"The acquisition provides us with greater exposure to APRR's favourable outlook and its leverage to French economic growth and trans-European trade," Macquarie Atlas chief executive Peter Trent said.

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