Snippets Corner: 25 March 2010 – BXB, ACK, AIO
March 25, 2010
Brambles Limited (BXB) said it has priced a US$500 million guaranteed senior note issue and a US$250 million guaranteed senior note issue in the United States 144A bond market. The company said it would use the proceeds from the notes to repay borrowings under its existing revolving bank credit facilities. Brambles said both are fixed rate notes and would be issued by subsidiary Brambles USA, Inc. The company said the US$500 million notes have a coupon of 5.35% for a term of 10 years, while the US$250 million notes have a coupon of 3.95% for a term of five years.
Austock Group Limited (ACK) said the company’s proposal to sell its 16.7% stake in Newreg Pty Limited to Link Market Services for about $8 million has been opposed by the ACCC. The company said the ACCC concluded that the acquisition of Newreg by Link would substantially lessen competition in the national market for securities registration and related services.
Asciano Limited (AIO) announced the resignation of chief financial officer Peter McGregor. The company said Mr McGregor’s resignation would be stepping down effective 30 April 2010 as he pursues other opportunities outside the business. Asciano said an executive search is underway to identify CFO candidates, while in the interim period until this replacement CFO is appointed, the CFO’s existing duties will be carried out by appropriate members of the Asciano management team.
Austock Group Limited (ACK) said the company’s proposal to sell its 16.7% stake in Newreg Pty Limited to Link Market Services for about $8 million has been opposed by the ACCC. The company said the ACCC concluded that the acquisition of Newreg by Link would substantially lessen competition in the national market for securities registration and related services.
Asciano Limited (AIO) announced the resignation of chief financial officer Peter McGregor. The company said Mr McGregor’s resignation would be stepping down effective 30 April 2010 as he pursues other opportunities outside the business. Asciano said an executive search is underway to identify CFO candidates, while in the interim period until this replacement CFO is appointed, the CFO’s existing duties will be carried out by appropriate members of the Asciano management team.
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