Asciano sells US$1bn of bonds

AAP-April,1-Asciano Ltd says it has priced $US1 billion ($A.97 billion) of senior guaranteed notes and will use the proceeds to prepay bank facilities due to mature in May 2012.
Asciano says it has priced an offering of $US750 million ($A728.44 million) of five per cent senior guaranteed notes due on April 7, 2018, and $US250 million of six per cent senior guaranteed notes due April 7, 2023.
"The notes provide an attractive source of long capital, further diversify the group's funding and increase Asciano's weighted average maturity to 5.8 years," chief executive John Mullen said in a statement.
The notes will be issued by Asciano Finance Ltd and will be guaranteed by Asciano and certain of its wholly owned subsidiaries.
The settlement of the offering of the notes is expected to occur on April 7, 2011, and is subject to customary closing conditions.