Transurban secures $915M WestConnex debt facilities

• 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.