Transurban Group
(ASX:TCL) will move ahead with a €500 million issue, with proceeds set to go toward repaying existing short term debt and meeting forthcoming debt maturities.
Transurban says the notes will be issued under its Euro Medium Term Note Program and will mature in October 2020.
Transurban says €225 million of the proceeds will be swapped into US dollars at an all-in fixed rate of 3.5 per cent, while the remainder will be swapped into Australian dollars at an all-in fixed rate of 5.8 per cent.
Transurban chief financial officer Samantha Hogg says the group's issuance into the Euro market shows Transurban’s ability to access a range of debt markets.
Transurban produced a net profit of $174.5 million in fiscal 2013.
