Australia’s NBN readies inaugural euro-denominated green notes deals

Chicago, Feb. 21 – NBN Co. Ltd. (A1//AA) is preparing to offer inaugural green notes denominated in euros, according to a market source.

The Regulation S offering is expected to have two tranches with maturities in six years and 10 years.

The notes will be issued under NBN’s $50 billion global medium-term note program.

BNP Paribas, Citi, Deutsche Bank and HSBC have been tapped as joint bookrunners.

The bookrunners are arranging fixed-income investor meetings starting Feb. 27.

Sustainalytics provided a second-party opinion on the sustainability bond framework.

Proceeds will be used to finance or refinance eligible green projects.

NBN operates Australia’s wholesale broadband access network and is wholly owned by the Commonwealth of Australia.

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