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.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.
As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.