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
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.