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Ann: ALLOT: DOW: Downer Completes A$150 Million M

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    • Release Date: 30/05/13 10:30
    • Summary: ALLOT: DOW: Downer Completes A$150 Million Medium Term Note Issue
    • Price Sensitive: No
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    DOW
    30/05/2013 08:30
    ALLOT
    
    REL: 0830 HRS Downer EDI Limited
    
    ALLOT: DOW: Downer Completes A$150 Million Medium Term Note Issue
    
    Media/ASX and NZX Release
    29 May 2013
    DOWNER COMPLETES A$150 MILLION MEDIUM TERM NOTE ISSUE
    
    Downer EDI Limited (Downer) announced today it had successfully completed a
    new issue of fixed rate senior unsecured Medium Term Notes.
    
    The issue was oversubscribed but capped at A$150 million and completed at a
    pricing margin of A$ Swap + 260 basis points, which translates to a fixed
    rate yield to maturity of 5.96% per annum over the 5.5 year term of the
    transaction. The scheduled maturity date is 29 November 2018.
    
    The proceeds will be used to refinance an existing A$150 million Note issue
    maturing in October 2013. The existing Notes had an original term of four
    years and a margin over
    A$ Swap + 375 basis points and a fixed rate yield to maturity of 9.77% per
    annum.
    
    The issue received strong support from both domestic and international
    investors with about 40% of the final book allocated to offshore accounts.
    
    Today's announcement follows last month's successful refinancing of Downer's
    
    A$400 million Syndicated Credit Facility and completes the refinancing of the
    Group's major debt transactions until the end of the 2014 financial year.  As
    a consequence of closing these two transactions, Downer's weighted average
    debt maturity has been extended from 1.6 years to 2.9 years (measured as at
    31 December 2012).
    
    The Hongkong and Shanghai Banking Corporation, Sydney Branch and Westpac
    Banking Corporation were Joint Lead Managers on the Medium Term Note issue.
    
    For further information please contact:
    
    Michael Sharp, Group Head of Corporate Affairs and Investor Relations  +61
    439 470145
    
    Downer EDI Limited (www.downergroup.com) provides comprehensive engineering
    and infrastructure management services to the public and private Minerals &
    Metals, Oil & Gas, Power, Transport Infrastructure, Telecommunications, Water
    and Property sectors across Australia, New Zealand and the Asia Pacific
    region.
    End CA:00236821 For:DOW    Type:ALLOT      Time:2013-05-30 08:30:19
    				
 
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