Woolworths looks to raise A$500 Million in notes
Australia’s largest retailer, Woolworths, announced today that it looking to raise A$500 Million in unsecured, subordinated notes, due to mature on 24 November 2036.
Woolworths lodged a prospectus with the Australian Securities and Investments Commission (ASIC) for an offer of dated, unsecured, subordinated, cumulative notes at A$100 each.
Woolworths Finance Director Tom Pockett said, “Woolworths is a solid cash flow generating business with a conservative balance sheet. This offer further optimises our capital structure and is expected to further support our corporate credit rating.”
The offer, which is open to institutional investors, Woolworths shareholders and members of the general public, is expected to open on 26 October 2011, with notes issued on November 24 2011.
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