By Lisa Kerner
Charlotte, N.C., Sept. 19 - Orica Ltd. subsidiary Orica Finance Ltd. issued $415 million guaranteed senior fixed-rate 10- and 12-year notes in the U.S. private placement market.
The notes were issued in two tranches:
• $350 million of 4.59% notes due 2023; and
• $65 million of 4.74% notes due 2025.
Existing U.S. investors and a number of new investors participated in the transaction, according to an Orica news release.
Proceeds will be used to repay committed bank lines and commercial paper.
Agents were JP Morgan and ANZ.
This was Orica's fifth debt raising in the U.S. market.
Based in East Melbourne, Australia, Orica manufactures and distributes mining and chemical products and services.
| Issuer: | Orica Finance Ltd.
|
| Issue: | Senior fixed-rate notes
|
| Amount: | $415 million
|
| Distribution: | Private placement
|
|
|
| Tranche 1
|
| Amount: | $350 million
|
| Coupon: | 4.59%
|
| Maturity: | 2023
|
|
|
| Tranche 2
|
| Amount: | $65 million
|
| Coupon: | 4.74%
|
| Maturity: | 2025
|
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