Victoria Power Networks (Finance) Pty Ltd (in which Spark Infrastructure Group
(ASX:SKI) owns a 49% stake), has reached an agreement with US investors in regards to issuing bonds in the US Private Placements market.
Victoria Power will issue a total of US$500 million worth of bonds in three separate tranches. Each of these tranches will mature in October of 2026, 2028 and 2031.
Spark says the total proceeds raised is around A$657 million, and these funds will be used to refinance US Private Placement debt that matures in November 2016.
Spark reported a net profit of $88 million at 31 December 2015.
