National Australia Bank Sells $159 Million in Wind Farm Bonds

(Bloomberg) — National Australia Bank Ltd. sold A$205
million ($159 million) of bonds to finance a wind farm in South
Australia.

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
weren’t disclosed.

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.

To contact the reporter on this story:
Justin Doom in New York at
jdoom1@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Will Wade, Robin Saponar

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