APA Group completes private placement of seven- and 10-year notes

By Lisa Kerner

Charlotte, N.C., July 2 - Australia's APA Group completed its private placement of $140 million of seven- and 10-year notes, according to a company news release.

APA said the notes, first announced on May 14, were priced at a spread of 575 basis points over Treasuries.

The offering was split into $65 million of 8.35% notes due July 2016 and $75 million of 8.86% notes due July 2019.

Proceeds will be used to pay down existing debt drawings and extend the average tenor of APA's debt portfolio, APA said.

APA is a Mascot, Australia-based energy transmission company.

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