-- Downer EDI's (ASX:DOW, NZE:DOW) financing arm, Downer Group Finance, priced an issue of AU$400 million in seven-year medium-term notes (MTN) at a fixed rate of 6.488%, according to a Thursday filing with the Australian and New Zealand bourses.
The issuance, part of the company's AU$1.25 billion debt issuance program, extends the company's debt maturity profile to about four years as of June 30, diversifies its funding sources, and replaces AU$500 million of maturing MTNs, per the filing.
The MTNs are scheduled to be issued on April 28, the filing added.