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.”
AUTHOR
Laura Dew
Recommended for you
Platinum Asset Management has put its two closed-end funds under strategic review in a bid to reduce the share price discount to pre-tax NTA and maximise shareholder value.
In the latest Meet the Manager profile, Money Management speaks with Michael Skinner, founder and managing director at Blackwattle Investment Partners.
Perpetual has seen AUM rise 6 per cent in the last quarter but the departure of a longstanding JOHCM fund manager led to outflows of $2.2 billion from his strategy.
Global fixed income fund Bentham Global Opportunities has been added to several major platforms, enabling it to be accessed more easily by financial advisers.
