TransGrid announces inaugural $600m 10 year AMTN issue

16/09/2020


We are delighted to announce the inaugural issuance under our Australian Medium Term Note (“AMTN”) programme with pricing of $600m of 10 year fixed rate notes at a coupon of 2.54%. Subject to satisfaction of customary conditions precedent, settlement of the notes is expected to occur on 23 September 2020.

Establishment of the AMTN programme has further diversified our debt portfolio, allowing us to engage with a broader audience of investors in Australian capital markets including key domestic and offshore institutions.

Commenting on the transaction, our CFO Jason Conroy said: “We are very pleased with the strong response that we received for this inaugural AMTN issue, which resulted in highly competitive pricing for our notes. In addition to opening a new debt source with the AMTN funding market, the notes will significantly extend the average duration of our financing facilities. We wish to thank our new bondholders for their support.”

Commonwealth Bank of Australia and National Australia Bank acted as Joint Lead Managers for the issue. TransGrid was advised by RBC Capital Markets and King Wood Mallesons.