Australia Origin, ASX eye US$ bond issues-sources

Australia Origin, ASX eye US$ bond issues-sources
08.18.08, 5:06 AM ET

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SYDNEY, Aug 18 (Reuters) - Australia's Origin Energy Ltd and bourse operator ASX Ltd are considering selling bonds in the U.S. private placement market, two market sources said on Monday.

Origin, Australia's second-largest energy retailer, has hired Bank of America (nyse: BAC - news - people ) and Westpac Institutional Bank to arrange a sale, a first source said.

Roadshows are scheduled for the second week of September.

Origin, which privately sold U.S. bonds in 2003 and 2005 with the same two banks, is fighting a hostile takeover bid from British energy firm BG Group Plc (nyse: BRG - news - people ) .

ASX, which runs the Asia-Pacific's second-largest listed stock exchange, is also eyeing a visit to the U.S. private placement market, a second market source said.

The company is looking to raise around $100-$150 million, with National Australia Bank (nyse: NAB - news - people ) possibly involved in the deal.

The U.S. private placement market is a popular source of funds for Australian companies looking for long-dated debt.

Seven companies have raised more than $1.6 billion there in 2008.

Typical buyers of private note placements are U.S. insurance companies keen on long-dated paper to match their assets.

(Reporting by Cecile Lefort)

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