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Long Term Objectives

Commitment to investment grade credit ratings
Diversify source where pricing is favourable
Maintain access to diverse debt capital markets
Extend average tenor of debt and maintain good maturity spread profile

Credit Rating

Current Credit Rating*

Aurizon Holdings Limited

ISSUER CREDIT RATING
S&P (Outlook) BBB+ (Stable)
Moody's (Outlook) Baa1 (Stable)

Aurizon Network Limited

ISSUER CREDIT RATING
S&P (Outlook) BBB+ (Stable)
Moody's (Outlook) Baa1 (Stable)

Historic Credit Rating*

Aurizon Holdings Limited

FY18 FY17 FY16 FY15 FY14 FY13 FY12 FY11
S&P (Outlook) BBB+ (Stable)
BBB+ (Stable)
BBB+ (Stable) BBB+ (Stable) BBB+ (Stable)
BBB+ (Stable)
BBB+ (Stable)
BBB+ (Stable)
Moody's (Outlook) Baa1 (Stable)
Baa1 (Stable)
Baa1 (negative) Baa1 (Stable) Baa1 (Stable) Baa1 (Stable)
Baa1 (Stable)
Baa1 (Stable)

Aurizon Network Pty Ltd

FY18 FY17 FY16 FY15 FY14 FY13
S&P (Outlook) BBB+ (Stable)
BBB+ (Stable)
BBB+ (Stable) BBB+ (Stable)
BBB+ (Stable)
BBB+ (Stable)
Moody's (Outlook)
Baa1 (Stable)
Baa1 (Stable)
Baa1 (negative) Baa1 (Stable)
Baa1 (Stable)
Baa1 (Stable)


Syndicated Bank Loan - Aurizon Finance and Aurizon Network have each entered into syndicated facility agreements with current facility sizes $A600m and $A990m respectively.



Debt Maturity Profile

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Borrowings

Syndicated Bank Loan

Aurizon Finance and Aurizon Network have each entered into syndicated facility agreements with current facility sizes $A800m and $A990m respectively.

Australia Dollar Corporate Bonds

In October 2013 Aurizon Network priced a 7 year Medium Term Note (“MTN”) with a face value of $525 million, maturing on 28 October 2020. The bond was issued at a fixed rate with a semi-annual coupon of 5.75 per cent per annum. The issuance represented Aurizon Network’s debut issue in the A$ bond market. 

In June 2017, Aurizon Network priced a 7 year Medium Term Note (“MTN”) with a face value of $425 million, maturing on 21 June 2024.  The bond was issued at a fixed rate with a semi-annual coupon of 4.00 per cent per annum.

Euro Corporate Bonds

In May 2016 Aurizon Network priced a 10 year Euro Medium Term Note (“EMTN”) with a face value of Euro 500 million, maturing on 1 June 2026. The bond was issued with a coupon of 3.125% per annum.

In September 2014 Aurizon Network priced a 10 year Euro Medium Term Note ("EMTN") with a face value of Euro 500 million, maturing on September 2024. The bond was issued with a coupon of 2% per annum. The issuance represented Aurizon Network’s debut issue in the Euro bond market.

Other Bank Loans - Working Capital Agreement

Aurizon Finance and Aurizon Network have each entered into bilateral facility agreements for A$150m and A$100m respectively. These facilities are used for working capital with terms reviewed on an annual basis.

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