Transurban announces $200m loan secured by WestConnex
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The news: WestConnex’s largest shareholder Transurban has announced that the Sydney road infrastructure project’s financing vehicle has secured a $200 million loan.
The numbers: Transurban’s share price had slipped 0.39% lower to $14.20 at 3:25pm AEST.
The context: Transurban told the exchange that WestConnex Finance Company has successfully raised the 10-year syndicated bank facility, which will rank equally with WestConnex’s existing senior debt. The facility will mature in May 2035.
Transurban has managed WestConnex since 2018 and has a 50% equity stake in the tunnel road project.
The New South Wales government first sold a 51% stake in the road to a Transurban-led consortium in 2018 before selling the rest of its stake to the consortium in 2021.
The source: ASX
