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In a statement Envestra Group treasurer, Martin Crowley, said, “The Company’s financing strategy is to smooth and extend the maturity profile of its debt portfolio. As part of this strategy we undertook a US$266 million private placement in the US last September with maturities of 12, 15 and 30 years.”
“The private placement announced today has enabled the company to continue this process. We are also continuing to diversify our funding base, which now includes bank debt, domestic capital market facilities and the US long-term facility. Following the placement, the average tenor of Envestra Victoria’s debt will be about nine years,” added Crowley.
