Good evening,
 
 

Good evening,

AGL Energy’s new boss, Damien Nicks, has a capital markets trip on his mind.

Street Talk can reveal that AGL executives have just come back from a global non-deal roadshow, where they talked up its mooted turnaround and energy transition strategy. Bank of America and Commonwealth Bank of Australia assisted with the pitch.

DCM types already know the company is ripe to refinance maturities. But the road trip has them wondering if AGL could also print a new-money deal.

A casualty of shareholder activism (from a billionaire, no less), AGL has a long to-do list that would happily soak up any new money raised, including $20 billion to develop 12 gigawatts of clean energy investments.

It would be interesting to see if AGL’s interest shapes up into a deal. Corporate debt markets have opened up in the past few weeks, allowing Transurban, Telstra, Sydney Airport, Worley, Northern Star and Nickel Industries to front investors again after a long pause.

Elsewhere, we have our paws on Jefferies’ pitch to sell Rugby Australia, Anchorage’s David Jones’ lease troubles are coming to a head with Scentre, and Quadrant Private Equity has a new fund.

Lastly, Canada Pension Plan Investment Board is rounding up investors for a Kangaroo bond, shortly after the visit Down Under of its boss, John Graham.

Happy reading,

Sarah Thompson, Kanika Sood and Emma Rapaport
Street Talk Editors

 
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