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
Some 42 per cent of CEOs say they are actively reinventing their business to stay relevant in the next decade, with consumer services the most common choice for asset and wealth managers.
Former Ophir Asset Management chief executive, George Chirakis, has joined private equity manager Scarcity Partners, while the asset manager has appointed a replacement from Macquarie.
Australian Unity has appointed a fund manager for its Healthcare Property Trust, joining from Centuria Healthcare, as it restructures the product with a series of senior appointments.
Financial advisers nervous about the liquidity of private markets funds for their retail clients are the target of fund managers launching semi-liquid products which offer greater flexibility and redemptions.
