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Three lenders to bankroll Future Fund s Towers move

Three lenders to bankroll Future Fund’s Towers move Save Share Commonwealth Bank of Australia, National Australia Bank and Britain’s Barclays are lined up to help bankroll Future Fund and partners’ $2.8 billion telecommunications infrastructure play. It is understood Future Fund’s syndicate, managed by busy infrastructure investor Morrison & Co, will borrow about $800 million and use the debt to help complete the acquisition. Telstra InfraCo Towers owns about 8200 mobile towers in Australia.   Quentin Jones The debt is expected to be retained by the Future Fund and partners’ entity that is buying the 49 per cent, rather than at the TowerCo level.

Australia s Telstra to sell 49% of tower business for $2 1 bln

Arundhati Dutta 3 minute read A man and power lines are reflected in a Telstra poster adorning a public telephone in Sydney, Australia, August 13, 2015. REUTERS/David Gray/File Photo Summary Shares jump to highest since Feb. 2020 Deal will allow co to ramp up retail business - analyst June 30 (Reuters) - Australian telecom firm Telstra Corp (TLS.AX) said it will sell a 49% stake in its mobile tower business for A$2.8 billion ($2.1 billion) and return half the sale proceeds to investors, sending its shares to their highest level in over a year. A consortium of Australia s sovereign wealth Future Fund and pension funds Commonwealth Superannuation Corp and Sunsuper would buy the stake in InfraCo Towers, Telstra said, in a deal valuing the entire business at A$5.9 billion.

Australia s Telstra to sell 49% of tower business for $2 1 billion

3 Min Read (Reuters) - Australian telecom firm Telstra Corp said it will sell a 49% stake in its mobile tower business for A$2.8 billion ($2.1 billion) and return half the sale proceeds to investors, sending its shares to their highest level in over a year. FILE PHOTO: A man and power lines are reflected in a Telstra poster adorning a public telephone in Sydney, Australia, August 13, 2015. REUTERS/David Gray/File Photo A consortium of Australia’s sovereign wealth Future Fund and pension funds Commonwealth Superannuation Corp and Sunsuper would buy the stake in InfraCo Towers, Telstra said, in a deal valuing the entire business at A$5.9 billion.

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