Treasury Wine Estates Limited (TWE) today announced that it has successfully negotiated its inaugural issuance of US Private Placement (USPP) notes for the equivalent of US$250 million. The transaction completed on 16 December 2013.

TWE's Chief Financial Officer, Tony Reeves said the raising will be used to refinance existing US Dollar bank debt that matures in April 2014 and is part of TWE's capital management program.

"This is an excellent outcome for TWE and re-enforces the quality of TWE's unique portfolio of assets and brands," Mr Reeves said. "This is the first time in many years that an international wine company has accessed the USPP market and the offer was oversubscribed by more than three times, demonstrating the strong appetite for TWE's credit and ongoing support for TWE's balance sheet from debt capital investors.

For more information, download the ASX Announcement (PDF, 167 KB)

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