Transurban has announced that Transurban Finance Company Pty Limited, the Transurban Group’s financing vehicle, has priced €500 million (US$596 million) of senior secured 10.5 year notes under its Euro Medium Term Note Programme.

The notes priced on 6 September 2017 and settlement is expected to occur on 13 September 2017 (London time), subject to customary closing conditions.

All proceeds will be swapped into Australian dollars at a fixed interest rate and will be used to repay upcoming debt maturities, assist with funding our development pipeline and for general corporate purposes. The Notes will rank equally with Transurban’s existing senior secured debt facilities and will mature in March 2028.

Transurban CFO Adam Watson said of the transaction:

“We received strong support from our Eurobond investors and continue to see this market as an attractive source of funding to support our development pipeline and capital management strategy."