Transurban successfully prices CAD650 million bond issuance

Company News

by Anna Napoli

Transurban (ASX:TCL) has today announced that Transurban Finance Company, has priced Canadian $650 million of senior secured 10 year notes under its euro medium term note programme.

The notes were priced on the 5th of November and settlement is expected to occur on the 13th of November, subject to closing conditions.

The notes will remain in their local currency, thereby providing an effective balance sheet hedge for Transurban's Canadian dollar investment in the A25 Montreal motorway.

CFO Adam Watson says the transaction received strong support from Canadian investors and the source of diversified funding will support the company's development pipeline and capital management strategy.

Shares in Transurban (ASX:TCL) shares are trading 0.45 per cent higher to $11.18.
 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.