National Broadband Network operator NBN Co. has raised US$650 million (A$988 million) in the United States private placement market following strong investor demand.
The government-owned corporation said the issue was more than seven times oversubscribed, attracting US$4.8 billion in orders from global investors after an August roadshow. It marked the most competitive pricing the company has achieved on a five-year US dollar bond, with part of the proceeds to be used for refinancing existing debt.
“This transaction reflects strong market confidence in NBN’s story, supported by our strong credit profile as well as a well-diversified following from global investors,” said Fiona Trigona, NBN’s executive general manager and group treasurer.
NBN also has A$8.6 billion of green and sustainability bonds on issue, funding energy-efficient fibre projects and the expansion of digital infrastructure in regional and remote communities.
In August, the company confirmed an agreement with Amazon to leverage its new low-earth-orbit satellites, enabling wholesale broadband services in remote and regional areas from 2026.