APA Group (ASX: APA) has successfully priced EUR550 million of 10-year senior unsecured notes (“Notes”), continuing its disciplined approach to capital management and allowing the proactive refinancing of its EUR650 million debt maturity due in March 2027.
The transaction attracted strong support from European and global institutional investors, with the final orderbook exceeding EUR1.35 billion, representing approximately 2.5 times the issue size.
Key terms |
|
|---|---|
| Principal amount (EUR) | EUR550 million |
| Principal amount (AUD) | $887 million |
| Format | 10-year senior unsecured notes |
| Fixed or floating | Fixed |
| Fixed AUD interest rate (swapped) | 6.69% p.a. |
As per the terms of the EUR650 million notes maturing in March 2027, a notice has been provided to holders for the early redemption of the 2027 notes at par on 7 December 2026. The proceeds from the Notes will be used to partly fund the redemption.
APA Chief Financial Officer, Garrick Rollason, said:
“The strong support for this transaction reflects continued confidence from global debt investors in APA and the quality and resilience of our business.
“This transaction is consistent with our disciplined approach to capital management. It proactively addresses our March 2027 debt maturity, extends our debt maturity profile and maintains a diverse funding base.
“Our balance sheet is positioned well to fund our ~$3.5 billion organic growth pipeline over FY27 to FY29. We remain focused on maintaining our BBB/Baa2 investment-grade credit ratings and will continue to be disciplined in allocating capital.”
