Transurban Group
(ASX:TCL) says its financing arm has completed a €500 million ten year bond issuance.
The toll road operator says settlement is expected on the 28th May with notes carrying a fixed coupon of 2 per cent and proceeds swapped into Australian dollars at around 5.2 per cent.
CEO Adam Watson says this is the company’s third issuance into the Euro market which was oversubscribed and demonstrates strong investor appetite for Transurban debt.
The company aims to reduce the average cost of debt and will use the funds to repay corporate maturities and reset certain legacy interest rate swaps.
Transurban reported a net loss of $354 million in the first half of the 2015 financial year.
