AusNet Services sells long-tenure SGD hybrid bonds

Singapore

AUSTRALIA's AusNet Services on Monday sold long-tenure hybrid S$200 million bonds at 5.5 per cent.

The bonds have a tenure of 60.5 NC or non-call 5.5. That means the debt matures in September 2076 but they can also be called or redeemed by the issuer in September 2021.

The bonds have perpetual-like features but are dated due to Australian tax rules on interest for undated issues.

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