Ampol (ASX:ALD) prices $500m subordinated notes

Company News

by Lauren Evans

Petroleum giant Ampol (ASX:ALD) has priced an offering of $500 million subordinated notes due in 2081 to wholesale investors in the domestic fixed income market.

The company said the subordinated notes are an effective long term source of capital and will form part of its ongoing capital management strategy. Net proceeds may be used to partly fund Ampol’s acquisition of Z Energy, and other general corporate purposes.

The subordinated notes have 60-year maturity with interest payable quarterly at a floating rate of three-month bank bill swap rate plus a margin of 3.4 per cent.

Settlement is expected to occur on December 2 this year.

Shares in Ampol (ASX:ALD) are trading 3.3 per cent lower at $29.23.
 

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.