Herbert Smith Freehills Kramer Advised AusNet On A$1.1 Billion Subordinated Notes Issuance
Herbert Smith Freehills Kramer advised AusNet on A$1.1 billion subordinated notes issuance with 30-year maturity.
Herbert Smith Freehills Kramer advised AusNet on A$1.1 billion subordinated notes issuance
The leading global law firm, Herbert Smith Freehills Kramer (HSF Kramer) advised AusNet Services Holdings Pty Ltd on its highly successful issuance of A$1.1 billion subordinated notes.
The notes carry a 30-year maturity with a 10-year non-call period and include an option for AusNet to defer interest payments. The issuance attracted strong market interest and reflects continued investor appetite for subordinated note offerings by Australian issuers.
Based in Victoria, AusNet is a leading Australian energy network business with over A$14 billion in assets. It operates three core regulated networks comprising electricity distribution, gas distribution, and the state-wide electricity transmission network, alongside a portfolio of contracted energy infrastructure.
The transaction involved Australia and New Zealand Banking Group Limited, Merrill Lynch (Australia) Futures Limited, MUFG Securities Asia Limited, National Australia Bank Limited, and The Hongkong and Shanghai Banking Corporation Limited acting as Joint Lead Managers.
Commenting on the transaction, Andrew Booth said,
“We are very pleased to have assisted AusNet on its $1.1 billion subordinated notes issuance. The transaction shows continued strong appetite for subordinated note offerings by Australian issuers, and the exciting options available to corporate treasurers. We look forward to continuing to support AusNet with its capital management strategies.”
The Herbert Smith Freehills Kramer team was led by Andrew Booth (Partner), with support from Amy Repse (Executive Counsel), Andrew Julian (Senior Associate), and April Whitehead (Solicitor).
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