Lendlease Corporation Limited
(ASX:LLC) has announced it has completed the issue of US$400 million in senior unsecured notes as part of its Euro Medium Term Note Programme.
The notes were issued at US Treasuries plus 280 basis points and will pay 4.5 percent annually.
The company has stated proceeds from the issue will be used for general corporate purposes and the repayment of drawings under existing revolving bank facilities
CFO Tarun Gupta indicated the issue provides longer term capacity and flexibility to fund Lendlease’s pipeline.
Lendlease Corporation reported a net profit of $353.6 million at December 31 2015
