(Reuters) -U.S.-based investor Stonepeak said on Wednesday it plans to launch a redeemable, infrastructure-backed debt security on the Australian Securities Exchange after securing over A$300 million ($194.94 million) in cornerstone commitments.
The note will offer monthly interest payments linked to the one-month Bank Bill Swap benchmark rate (BBSW) plus a 3.25% annual margin and is expected to begin trading on December 10.
“The Stonepeak-Plus INFRA1 Note will provide Australian investors access to regular monthly income generated through a curated portfolio of high-quality infrastructure debt assets,” the firm said in a statement.
E&P Capital, Westpac, and Morgans among others are serving as joint lead managers for Stonepeak.
In September, Reuters reported that Stonepeak, which began investing in Asia in 2019 and manages $76.3 billion in assets globally, is seeking to raise as much as $4 billion for its second Asia-focused infrastructure fund.
($1 = 1.5389 Australian dollars)
(Reporting by Nikita Maria Jino in Bengaluru; Editing by Nivedita Bhattacharjee)
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