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CSL Ltd. — Capital/Financing Update 2020
May 6, 2020
17854_rns_2020-05-06_991dfd25-8c24-4b39-83dc-1855b3847a98.pdf
Capital/Financing Update
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7 May 2020
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New Debt Facilities to Strengthen Maturity Profile
CSL Limited (ASX:CSL; USOTC:CSLLY) today announced that on 6 May 2020 it priced a new USD750 million private placement.
The private placement consists of 4 maturities as follows:
| 7-year bullet | 10-year bullet | 12-year bullet | 15-year bullet | |
|---|---|---|---|---|
| Amount | USD100m | USD300m | US150m | USD200m |
| Coupon | 2.38% | 2.65% | 2.73% | 2.83% |
The new private placement has a weighted average interest rate of 2.68% and an average life of 11.5 years.
The new debt facilities will strengthen the Group’s current debt maturity profile as shown below:
Maturity Profile of Debt by Facility
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----- Start of picture text ----- Excludes Capital Leases 900,000 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0YearPrivate Placement QDI Bank Debt New PP KfW Loans LeasesUS$000FY20 FY21 FY22 FY23 FY24 FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33 FY34 FY35 FY36 FY37 FY38----- End of picture text -----
CSL’s Chief Financial Officer, David Lamont said “We were very pleased with the outcome of this debt raising, which was well-oversubscribed by investors. The US Private Placement market continues to provide CSL with good flexibility in terms of maturities and we are grateful for the ongoing support of this important debt market. The transaction is a continuation of the Company’s strategy to strengthen its debt maturity profile.”
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7 May 2020
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Page 2
The proceeds from the new debt raisings will be used for general corporate purposes.
The debt issue is subject to investor due diligence and is scheduled to close in late May.
Authorised by Fiona Mead Company Secretary
For further information, please contact:
Investors: Media: Bernard Ronchi Christina Hickie Senior Manager Investor Relations Senior Manager Communications CSL Limited CSL Limited Telephone: +613 9389 3470 Mobile +61 429 609 762 Email: [email protected] Email: [email protected]
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