Stonepeak to debut $195 million debt security in Australia (Nov 5)

(Corrects assets under management in paragraph 5 of November 5 report to $79.9 billion from $76.3 billion)

(Reuters) -U.S.-based investor Stonepeak said on Wednesday it plans to launch a redeemable, infrastructure-backed debt security on the Australian Securities Exchange after securing over A$300 million ($194.94 million) in cornerstone commitments.

The note will offer monthly interest payments linked to the one-month Bank Bill Swap benchmark rate (BBSW) plus a 3.25% annual margin and is expected to begin trading on December 10.

“The Stonepeak-Plus INFRA1 Note will provide Australian investors access to regular monthly income generated through a curated portfolio of high-quality infrastructure debt assets,” the firm said in a statement.

E&P Capital, Westpac, and Morgans among others are serving as joint lead managers for Stonepeak.

In September, Reuters reported that Stonepeak, which began investing in Asia in 2019 and manages $79.9 billion in assets globally, is seeking to raise as much as $4 billion for its second Asia-focused infrastructure fund.

($1 = 1.5389 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru; Editing by Nivedita Bhattacharjee)