(Bloomberg) — National Australia Bank Ltd. sold A$205
million ($159 million) of bonds to finance a wind farm in South
Funds for the 71.4-megawatt Hallett Hill project came from
U.S. investors, the first time a renewable-energy asset in
Australia was financed through a U.S. private-placement, the
Melbourne-based bank said Friday in a statement on its website.
The proceeds will be used to refinance existing debt. Terms
The issuance, rated BBB by Standard & Poor’s, follows the
bank’s A$300 million offering of climate-change bonds in
December. The bank is Australia’s largest debt financier of
renewable energy projects, according to the statement.
Infrastructure Capital Group’s Energy Infrastructure Trust
owns the Hallett Hill wind farm, which will power about 43,000
homes, according to the statement.
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Will Wade, Robin Saponar