Orica: Completes US$600 Million Private Placement Note Issue
August 10 2010 - 9:16PM
Dow Jones News
Orica Ltd. (ORI.AU) on Wednesday said its unit Orica Finance
Ltd. has placed US$600 million worth of 10-, 12-, 15- and 20-year
notes in the U.S. private placement market.
The debt, which was bought by existing U.S. investors and new
holders, will be used to pay back bank lines and commercial
paper.
The 10-year US$335 million tranche carries a coupon of 4.53%,
the US$80 million 12-year tranche has a coupon of 4.63%, the US$85
million 15-year tranche a coupon of 4.88% and the 20-year US$100
million tranche a 5.90% coupon, Orica said in a statement.
The weighted average pricing was 4.82% over the whole
placement.
-By Enda Curran, Dow Jones Newswires; 61-2-8272-4687;
enda.curran@dowjones.com
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