MSC Trustees replace Sargon in trustee role
MSC Trustees has been appointed as a trustee for Spark Infrastructure’s $1 billion listed notes, replacing Sargon.
The notes form part of the firm’s stapled security capital structure.
Infrastructure firm Spark had interests in $18 billion of energy network assets across Australia which serve five million homes and businesses.
As well as Spark, MSC also worked with Sandhurst Trustees (Bendigo and Adelaide Bank) and Australian Unity.
MSC Group managing director, Matthew Fletcher, said: “We are delighted to accept this trustee appointment on behalf of all Spark noteholders. MSC continues to be active in providing trustee services for selective Australian companies issuing notes, bonds and debentures.
“We consider trustees have an important role to play in facilitating these types of capital structures which are critical to the Australian corporate landscape and provide worthwhile opportunities for investors.”
Spark chair, Dr Doug McTaggart, said: “Our mission is to deliver long-term value through capital growth and distributions for [note] holders from our portfolio of high-quality, long-life essential services infrastructure businesses. Spark Infrastructure’s investments are all within Australia serving over five million homes and businesses in NSW, the ACT, Victoria and South Australia and are also at the forefront of the transition in Australia’s electricity system to one that is increasingly based on renewable energy.”