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MIRVAC GROUP — Capital/Financing Update 2013
Oct 2, 2013
65328_rns_2013-10-02_c7c840d0-cbec-43c3-bbd7-2cd6fdb5cb26.pdf
Capital/Financing Update
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3 October 2013
MIRVAC GROUP ISSUES MEDIUM TERM NOTE
Mirvac Group ("Mirvac") [ASX: MGR] is pleased to announce it has completed a seven year, A$200m million Medium Term Note (“MTN”) issue, at a margin of 195 basis points. The issuance was heavily oversubscribed and as a result, the Group upsized the deal to Mirvac’s maximum requirement of $200m.
Mirvac’s CEO & Managing Director, Susan Lloyd-Hurwitz said this transaction reflects Mirvac’s ongoing capital management initiatives to extend the Group’s debt maturity profile and diversify sources of funding. This MTN issue will retire existing bank debt.
“The S&P credit rating upgrade to BBB+ achieved last week has enabled Mirvac to secure longer dated tenor at attractive pricing. Mirvac has no debt expiring until March 2015.”
For more information, please contact:
Media enquiries: Marie Festa Group Executive, External Affairs +61 2 9080 8956
Investor enquiries: Jessica O’Brien Group General Manager, Investor Relations +61 2 9080 8458
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