Grocery giant Coles enters debt capital markets
Major grocery retailer Coles Group has entered the Australian debt capital markets.
Coles has announced to the Australian Securities Exchange (ASX) that its subsidiary, Coles Group Treasury has priced $600 million of fixed rate Australian dollar medium term notices, comprising $300 million of seven-year notes and $300 million of 10-year notices.
The seven-year notices are priced with a coupon of 2.2% and the 10-year notes are priced with a coupon of 2.65%.
Explaining the move, Coles Chief Financial Officer, Leah Weckert said the proceeds would be used to replace some of the company’s bank debt facilities that were established at the time of its demerger from Wesfarmers in 2018.
Recommended for you
Bell Financial Group has appointed a chief investment officer who joins the firm from Clime Investment Management.
Private markets funds with “unattractive practices” could find themselves facing enforcement activity with ASIC chair Joe Longo stating he cannot rule it out in the future.
Despite ASIC concerns about private credit funds being accessed via the advised channel, there are questions regarding how high its usage actually is among financial advisers.
Challenger has looked to the superannuation industry for its appointment of a group chief investment officer, a newly-created role.
