Ausgrid
Ausgrid eyes euros as a core currency market
Ausgrid Finance’s euro market return continues its ambition to term out bank debt since privatisation in 2016. Deal sources say the transaction, and Ausgrid’s intentions to be a regular issuer into the market, received significant investor interest.
Beyond labels, corporate engagement marches on
If Australian corporate engagement with sustainable finance were measured by labelled green, social and sustainability bond issuance, progress remained underwhelming in 2020. However, issuers, investors and other market participants at the KangaNews Sustainable Debt Summit 2020 spoke of deepening commitments to environmental, social and governance risk mitigation.
Ausgrid sees, and exploits, window of opportunity
Ausgrid Finance returned to the Australian dollar market for only its second domestic transaction, on 29 July. The issuer says it saw a window of opportunity to refinance debt ahead of schedule and moved quickly to take advantage of conducive issuance conditions.
Ausgrid prints A$1 billion dual-tranche deal
Ausgrid launches domestic benchmark transaction
On 29 July, Ausgrid Finance (BBB/Baa1) launched its new Australian dollar denominated, benchmark transaction, offered in either or both a 3.5-year floating-rate note and a 6.5-year fixed-rate line. Indicative price guidance for the forthcoming deal is, respectively, 115-120 and 145 basis points area over swap benchmarks.
Ausgrid taking indications of interest for domestic benchmark deal
On 28 July, Ausgrid Finance (BBB/Baa1) began taking indications of interest for an Australian dollar denominated, benchmark transaction. The potential offer includes either or both a 3.5-year floating-rate note and a 6.5-year fixed-rate line. Initial price thoughts are, respectively, 120 and 150 basis points area over swap benchmarks. MUFG Securities, National Australia Bank and UBS are leading.
