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BRIEF-Transurban group says Transurban Queensland updates onm US private placement

Published 20/10/2016, 09:59 am
© Reuters.  BRIEF-Transurban group says Transurban Queensland updates onm US private placement
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Oct 20 (Reuters) - Transurban Group TCL.AX

* Transurban queensland us private placement-tcl.ax

* Transurban queensland, in which transurban has a 62.5% interest, has priced approximately a$774 million of senior secured notes

* Settlement is expected to occur over two stages in december 2016 and january 2017

* All US$ proceeds from notes will be swapped into australian dollars and interest rate exposure will be hedged for term of notes.

* Notes will be issued in four tranches of approximately a$204 million, a$293 million, a$177 million and a$100 million

* Proceeds will be used to fully repay remainder of existing term bank debt which is due to mature in july 2019

* US private placement, together with other recent debt raisings increased average length of transurban queensland's debt book to about 9 yrs Source text for Eikon: ID:nSNZ3m0bDH Further company coverage: TCL.AX

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