Orica Finalizes US Private Placement

  • Jun 25, 2020 AEST
  • Team Kalkine

Orica Ltd (ASX:ORI) announced completion of new US$451 million and A$70 million issue of fixed rate senior unsecured notes in the US Private Placement (USPP) market.

  • Initial offer was US$250 million issue to refinance USPP maturing in October 2020, but transaction achieved a final order book of US$1.3 billion showing oversubscription
  • Notes were issued by subsidiary Orica Finance and are split evenly across 8.3-year and 10.3-year maturities
  • The US dollar tranches were priced at coupons of 3.19% and 3.40% respectively, and the Australian dollar 10.3-year tranche was priced at 3.98%.

Orica CEO stated that the success of the issue shows the resilient business structure and market’s confidence in its capital structure and growth strategy.


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