Queensland Motorways refinances debt

Transurban announced the issue of $900m of secured notes by its 62.5% owned subsidiary Queensland Motorways. The issues consists of tranches of $200m, $300m, and $400m maturing in 10, 12 and 15 years respectively. The notes were placed with US investors and the purpose was to refinance Queensland Motorwayss’ upcoming debt maturity. Transurban CFO Adam Watson said the issue was part of the group’s strategy and it would “double the average length of Transurban Queensland’s debt book to over six years.”