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Tuesday 24 October 2017 by Company updates

NCIG junior debt still offering good value

THIS CONTENT IS SUITABLE FOR WHOLESALE INVESTORS ONLY

We have provided a research update on Newcastle Coal Infrastructure Group's (NCIG) junior debt.

NCIG continues its track record of successfully refinancing its debt well ahead of time, with the pricing of its USD500m 4.40% September 2027 10 year senior secured fixed rate bond transaction announced on 22 September 2017.

This follows NCIG’s refinancing of USD634m of bank facilities in June 2017. NCIG now benefits from a more diversified pool of funding sources and lenders, having added investors from the US144A market to its existing pool of bank lenders and US private placement investors, as well as increased the average tenor of its debt.

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