Investor Presentaiton
INFRASTRUCTURE FOR THE FUTURE
VICTORIA POWER NETWORKS DEBT AND HEDGING
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In May 2020, Victoria Power Networks replaced $353m in USPP and
debt facilities maturing in June/July 2020 with $425m of debt facilities
maturing in May/June 2022, completing all 2020 refinancing requirements
In September 2020, Victoria Power Networks raised HKD744 million of 5-
year fixed rate notes. Cross currency swaps were executed at the time of
the note placement resulting in total proceeds of approximately A$131
million
Interest Rate
Swaps
Notional Principal
Average Contracted
Fixed Interest Rate
Amount
< 1 year
$800m
1.3%
1-2 years
$400m
2.5%
In November 2020, Victoria Power Networks raised A$200 million of 10
year fixed rate notes at 2.065%
2-5 years
$1,200m
2.6%
5+ years
$1,495m
2.0%
• Next debt maturity is $425m in August 2021
Total
$3,895m
2.1%
Drawn Debt Maturity Profile at 31 December 2020 ($m 100%)
■Capital Markets Debt
630
■Bank Debt
425
300
250
200
200
142
131
86
392
398
198
448
L
225
150
165
107
91
200
100
53
38
Aug-21 Sep-21 Jan-22 May-22 Sep-22 Sep-23 Nov-24 Mar-25 Sep-25 Oct-26 Nov-26 Feb-27 Jun-27 Aug-27 Mar-28 Apr-28 Oct-28 Sep-29 Mar-30 Apr-30 Nov-30 Oct-31
Spark Infrastructure | Investor Presentation | February 2021
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