By Lisa Kerner
Charlotte, N.C., Feb. 4 - Envestra Ltd. announced an agreement to privately place a $150 million 17-year debt facility with U.S. "blue chip" bond investors.
The bonds represent close to 10% of Envestra's total debt portfolio, a company news release said.
Proceeds will be used to refinance existing shorter term bank facilities.
Envestra said the loan can be drawn down at any time through to July 1, 2010 and matures in July 2027.
The company's next term debt refinancing occurs in May 2011, when A$180 million of bonds mature.
Envestra, a gas distribution company based in Adelaide, South Australia, said it has no need to seek further debt facilities until November 2011.
| Issuer: | Envestra Ltd.
|
| Issue: | Debt facility
|
| Amount: | $150 million
|
| Maturity: | July 2027
|
| Pricing date: | Feb. 4
|
| Distribution: | Private placement
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
