Seven Group’s WesTrac unit was the company’s biggest earner in the year to June 30, hauling in $425.6 million in earnings before interest and tax.Seven’s brokers Bank of America and Macquarie Capital launched the deal after market. Bank of America was named as sole bookrunner, while Macquarie was structuring adviser.
The brokers were seeking buyers for the notes, which would offer a 3.875 per cent to 4.625 per cent coupon on a quarterly basis.The notes were exchangeable into Boral Ltd shares, where Seven Group has a 69.6 per cent stake.The exchangeable property was listed as 66.3 million Boral shares, which was equivalent to a 6 per cent stake in the building materials group, in terms sent to investors.
The maturity date was listed as “on or about Oct 18, 2027”, with a put option in the investor’s favour two years earlier.The notes would be listed in Singapore. Concurrent with Thursday night’s notes offer, the brokers were also seeking buyers for 33.1 million Boral shares in a delta placement to assist with hedging activities.co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: FinancialReview - 🏆 2. / 90 Read more »
Source: FinancialReview - 🏆 2. / 90 Read more »
Source: abcnews - 🏆 5. / 83 Read more »
Prodigy breaks 30-year Sheffield Shield recordTeague Wyllie has become the youngest player to score a Shield century since Ricky Ponting. 😮 9WWOS Cricket
Source: wwos - 🏆 12. / 68 Read more »
Source: abcnews - 🏆 5. / 83 Read more »