Toll road operator Transurban (ASX:TCL) says Transurban Queensland in which Transurban has a 62.5 per cent interest, has priced approximately $875 million senior secured notes in the US private placement market.
All US dollar proceeds from the Notes will be swapped into Australian dollars and the interest rate exposure fully hedged for the term of the Notes.
The proceeds will be used to repay existing bank debt and for general corporate purposes.
The Notes will be issued in three tranches of approximately $235 million, $345 million, and $295 million, with tenors of 10, 12 and 15 years, respectively.
Settlement is expected to occur in mid May 2019, subject to customary closing conditions.
This represents Transurban Queensland’s third issuance in the US private placement market.
Shares in Transurban (ASX:TCL) announces closed 0.08 per cent higher at $13.09.