Brambles prices €500 million medium-term notes

Company News

by Kathy Skantzos

Brambles (ASX:BXB) has announced the pricing and allocation of 500 million euro on European medium-term notes.

The notes are priced at a fixed rate with a coupon of 1.5 per cent, maturing in 10 years.

Settlement is expected to occur on 4 October this year.

The supply chain logistics company intends to use the proceeds to address the refinancing of notes maturing in April next year.

Brambles CFO Nessa O’Sullivan said the issue is in line with the company’s strategy of diversifying funding sources and lengthening the average maturity term of its borrowings.

Shares in Brambles (ASX:BXB) are trading 0.11 per cent lower to $9.00.
 

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.