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University issues 10-year domestic bond

University issues 10-year domestic bond

Jamie Ng, Ashurst

Student accommodation and existing facilities at Australian National University (ANU) will benefit from funds raised by its $200 million note programme and debut issue.

Firms: Ashurst (Australian National University); King & Wood Mallesons (Australia and New Zealand Banking Group Limited and National Australia Bank Limited)

Deal: ANU has established a medium-term note programme and debut issue.

Value: $200 million

Area: Debt capital markets

Key players: The Ashurst team was led by partner Jamie Ng (pictured).

Deal significance: The ANU has established a domestic medium-term note programme and debut issue of $200 million at a fixed rate of 3.98 per cent. Notes are due 2025.

Australia and New Zealand Banking Group Limited and National Australia Bank Limited acted as the dealers.

The ANU will use the funds generated from the issue of notes to refinance existing facilities and swap arrangements to finance student accommodation.

Ashurst lead partner Jamie Ng said: “It is interesting to see the continued development of the university sector tapping the debt capital markets‎ as a source of finance, demonstrating an increasingly sophisticated approach to their capital management and funding arrangements.”

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