Australia’s APT Pipelines offers 10-, 20-year notes; pricing Monday

By Aleesia Forni

Virginia Beach, March 16 – APT Pipelines Ltd. is planning to sell a benchmark offering of senior notes in 10- and 20-year tranches on Monday, according to market sources.

The notes (Baa2/BBB/) are being priced via Rule 144A and Regulation S.

There is a change-of-control put at 101%.

Bookrunners are ANZ, J.P Morgan Securities LLC, Morgan Stanley & Co. LLC and Scotia Capital.

Proceeds will be used to fund the acquisition of the QCLNG pipeline from BG Group, as well as for general corporate purposes.

The natural gas pipeline infrastructure operator is based in Sydney.

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