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AusNet prices A$400m of bonds

POWER company AusNet Services has priced around A$400 million (S$413.8 million) of bonds.

This comprises A$50 million worth of notes due Aug 21, 2028; 161 million euro-denominated notes due March 1, 2030; and 610 million Hong Kong dollar-denominated notes due Feb 18, 2033.

The proceeds will be used to refinance existing debt and fund continued asset base growth, AusNet told the Singapore Exchange on Thursday.

AusNet, an associate company of Singapore Power, said that it maintains a diversified debt maturity profile and accesses its funds from a variety of sources.

Its investment grade credit ratings - "A-" by Standard & Poor's and "A3" by Moody's Investor Service - allows ready access to debt markets in Australia and offshore, it added.

AusNet had A$625 million of undrawn committed bank debt facilities as at Feb 22.