ABB prices first offering in Australian domestic bond market

ABB, the leading power and automation technology group, announced that its subsidiary ABB Finance (Australia) Pty Limited has priced an AUD 400 million 5-year bond transaction today. This transaction is the first domestic Australian bond issued by ABB.
The bonds carry a coupon of 4.25% and will be guaranteed by ABB Ltd, the ultimate holding company of the ABB Group. The bond is issued off ABB Finance (Australia) Pty Limited’s newly established AUD 1 billion debt issuance programme.

More than 60 per cent of the bonds were allocated to Australian investors. Altough structured as a domestic bond, it also attracted strong interest from European and Asian investors.

The net proceeds of the issue will be used for general corporate purposes in Australia.

Issuance will take place on or around November 22, 2012 which is the expected settlement date of the bonds.

ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 145,000 people.