AGL Energy Raises $300 Million From Bond Sale to U.S. Private Investors

AGL Energy Ltd., Australia’s largest electricity retailer, said it raised $300 million from its first sale of bonds to U.S. private investors.

The Sydney-based company sold $165 million of 12-year notes that it will swap back to Australian-dollar debt paying a margin of 259 basis points more the bank bill swap rate, according to a regulatory filing.

It also sold $135 million of 15-year bonds, paying a spread of 254 basis points once the proceeds are exchanged for Australian dollars, the filing said. AGL will use the funds to repay bank loans, it said.

To contact the reporter on this story: Sarah McDonald in Sydney at smcdonald23@bloomberg.net.

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