AusNet Service prices 1.5 billion Norwegian Kroner bond issue

Company News

by Rachael Jones

Power company AusNet Services (ASX:AST) has successfully priced a Norwegian Kroner 1.5 billion, 10-year bond issue to raise approximately $246 million.

The proceeds will be used to refinance existing debt and fund capital expenditure.

AusNet Services maintains a diversified debt maturity profile and accesses its funds from a variety of sources.

AusNet Services is currently owned 31.1 per cent by Singapore Power, 19.9 per cent by State Grid Corporation of China and the other 49 per cent is publicly owned.

As at 5 March 2019, AusNet Services had $767 million of undrawn committed bank debt facilities.

Shares in AusNet Services (ASX:AST) closed 0.11 per cent higher to $1.77 yesterday