OCEANIA

Asciano tackles debt

16 years ago

Asciano, the parent of Australian stevedore Patricks, has offered US$1bn in notes in an effort to restructure debt. The notes are guaranteed by Asciano and its subsidiaries.

Included in the offer are US$400m of notes offered at 3.125% and US$600m at 4.625%. Asciano managing director and chief executive Mark Rowsthorn said the notes provided long-term capital and diversified the group’s funding sources.

OCEANIA