University of Wollongong’s AU$175 million Notes Offering

Norton Rose Fulbright has acted for the University of Wollongong on the establishment of its medium term note program and first domestic 10-year debt issuance at a fixed rate of 3.50 per cent, worth AU$175 million.

The transaction, which was arranged by two major Australian banks, marks the University of Wollongong’s return to the domestic bond market. Undertaken in a short timeframe to allow the University of Wollongong to access the final issuance window of 2017, the notes achieved a credit rating of AA with Standard & Poor’s and attracted investment bids totalling more than AU$500 million.

The University of Wollongong will use the funds generated from the issue of notes to refinance existing facilities and to assist with financing its exciting pipeline of research and teaching initiatives and significant capital projects.

The deal for the University of Wollongong was led by Norton Rose Fulbright partners Rob White (Picture) and Vittorio Casamento with assistance from James Morris andYoon Nam.

Involved fees earner: Rob White – Norton Rose Fulbright; Vittorio Casamento – Norton Rose Fulbright; James Morris – Norton Rose Fulbright; Yoon Tae Nam – Norton Rose Fulbright;

Law Firms: Norton Rose Fulbright;

Clients: University of Wollongong ;

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Author: Michael Patrini