Export Finance Australia raises USD1.5 billion through inaugural Rule 144A/Reg S bond issue
Australia’s export credit agency Export Finance Australia has successfully completed a raising of United States dollars (USD) through an inaugural Rule 144A / Reg S bond issue.
Wednesday 26 October 2022
Australia’s export credit agency Export Finance Australia (EFA) has successfully completed a raising of United States dollars (USD) through an inaugural Rule 144A / Reg S bond issue.
EFA successfully executed the bond issue last week, attracting strong interest from a wide range of global investors and raising its target of USD 1.5 billion after being oversubscribed.
EFA utilised the Rule 144A/Reg S process to access a more diverse set of investors and increase in EFA’s USD lending activities to fund transactions that support Australian exporters and regional infrastructure development.
The proceeds will be put towards EFA’s general financing requirements, including EFA’s USD1.33 billion contribution to Telstra’s acquisition of Digicel Pacific, EFA’s largest financing transaction to date.
The bond issue attracted strong support from institutional investors, including a number of central banks from North America, EMEA, the UK and Asia Pacific region.
EFA engaged Citigroup Global Markets Limited, Commonwealth Bank of Australia, J.P. Morgan Securities plc, Merrill Lynch International and UBS AG London Branch as Joint Lead Managers.
Under its governing legislation, EFA raises funds through borrowing to fund its activities.
Media Contact: Nic Frankham, Head of Corporate Affairs 0435 963 913
About Export Finance Australia
Export Finance Australia (EFA) is Australia’s export credit agency. EFA supports Australia’s trade and infrastructure agenda by providing commercial finance for exporting businesses and Indo-Pacific infrastructure development. EFA administers the Australian Government’s National Interest Account, which includes the Critical Minerals Facility, the Defence Export Facility and lending for the Australian Infrastructure Financing Facility for the Pacific.
