Sharechat Logo

Telstra announces 500 million bond, further strengthens balance sheet

Friday 17th April 2020

Text too small?

Friday 17 April – Telstra today announced it had priced a €500 million (approximately AUD $860 million) bond issue, which will further strengthen its balance sheet.

Telstra priced the €500 million bond issue (the Notes) under its Debt Issuance Program Offering Circular dated 20 March 2020. The Notes are expected to be issued on 23 April 2020 and have a 10-year maturity. Telstra will use the proceeds from the Notes for general corporate purposes including pre-funding of future debt maturities.

Since mid-March Telstra has also secured an additional $940 million in bank facilities, and Telstra now has a total of $3.6 billion of committed bank facilities.

The bond issue and the additional bank facilities are both well below Telstra’s current average cost of funds.

CEO Andrew Penn said the bond issue and the additional bank facilities demonstrated the company’s financial strength and attractiveness to global capital markets, while further strengthening its strong liquidity position during a volatile period in global financial markets.

On 1 April 2020 credit rating agency S&P reaffirmed Telstra’s A- (stable) credit rating and on 2 April 2020 Moody’s reaffirmed Telstra’s A2 (stable) credit rating.

“Telstra’s continued access to low-cost capital and A-band credit rating demonstrates the strength of the business during this very volatile time,” Mr Penn said.

Source: Telstra Market Release



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Kathmandu Holdings Limited announces Annual Report 2020
Genesis Energy announced its FY21 Q1 Performance Report
Vector announces its operational performance for the 3 months
Abano Scheme Meeting Materials
Westpac and Afterpay announce partnership
NWF agrees a new Variable Volume Fixed Price Agreement
Takeovers Panel states no objection to Metlifecare scheme
Sichuan Province Trial Confirms Truscreen Technology
PEB Announces Executive Team Changes to Support Growth
Sylvia Park opens the doors on its new Level 1 expansion

IRG See IRG research reports