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6/6/2018 — General
Downer’s Japanese financial move

Downer EDI Ltd (ASX & NZX: DOW) has issued Japanese yen 10 billion ($A120 million) of medium term notes under its existing debt issuance programme.

The notes have a 15-year tenor and mature in May 2033.

Downer said the notes were issued on a fixed rate Yen basis and fully hedged into fixed rate Australian dollars. The funds will be used for general corporate purposes.

Chief financial officer for Downer, Michael Ferguson, said this was Downer’s first transaction in the Japanese institutional investor market.

“We have achieved our objectives of increasing the company’s borrowing capacity, further extending the maturity profile and continuing to diversify our funding sources,” Ferguson said.

Application has been made for the notes to be quoted as a wholesale debt listing on the Australian Securities Exchange. The transaction was arranged by SMBC Nikko Capital Markets Ltd.

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