Transurban secures $915M WestConnex debt facilities
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- Transurban has finalised a $915 million debt financing package for its Sydney toll road asset, WestConnex.
- The company’s share price was down at $14.52 following the announcement.
- Proceeds from the loan facilities will be used to repay existing debt and cover transaction costs.
Transurban (ASX:TCL) has reached financial close on an $915 million debt financing package for WestConnex.
The financing vehicle WestConnex Finance raised the capital through Asian term loan facilities.
The deal includes $325 million in eight-year debt, $470 million in 10-year debt, and $120 million in twelve-year debt.
Transurban stated that all proceeds will be used to repay existing debt obligations and cover transaction costs.
Following the announcement, the Transurban share price was down at $14.52.
The debt facilities rank equally with existing senior secured debt and mature between August 2034 and August 2038.
Transurban holds a 50% interest in WestConnex, which operates major toll road infrastructure across Sydney.
