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[April 2008]
Boral Issues US$382 Million of Unsecured Notes
Boral Limited (Sydney, NSW, Australia) has announced the successful completion of an issue of US$382 million of Senior Unsecured Notes to institutions in the North American Traditional Private Placement market. The Notes are structured in two tranches comprising ten year and twelve year bullet maturities with fixed coupon rates of 7.12% pa and 7.22% pa, respectively.
Proceeds from this offering will be used to refinance existing US dollar commercial paper borrowings and for general corporate purposes. This debt will remain at fixed interest rates in US dollars.
Boral’s CEO and Managing Director, Rod Pearse, said: “This is the third occasion since 2001 that Boral has raised debt funds in this market. We are pleased that we have been able to complete this note issue during a challenging time for debt capital markets. This debt placement has achieved our financing objectives, lengthening Boral’s debt maturity profile and further diversifying our funding sources. The note issue provides Boral with financial flexibility going forward”.
www.boral.com.au
ENDS