TCL issues $535 million medium term notes

Company News

by Jessica Amir

Transurban Group (ASX:TCL) has announced Westlink M7 will issue $535 million in medium term notes.

The toll road developer and manager says the proceeds will be used to fully repay existing term bank debt which matures in August 2017, and also go toward partly repaying its term debt due to mature in August 2019.

Transurban will issue $435 million secured fixed rate 10-year notes, and $100 million secured fixed rate 10.5 year notes.

Transurban says it signifies M7’s successful return to the domestic bond market, while it also continues the company’s strategy of diversifying its debt portfolio into capital markets.

Shares in Transurban Group (ASX:TCL) closed 0.26% higher on Friday at $11.39.
 

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