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Spark Infrastructure Group announces $129 million capital raise

Spark Infrastructure Group (ASX: SKI) announced that it has raised $129 million through private placements conducted by the Victoria Power Networks funding vehicle for CitiPower and Powercor, companies in which Spark owns a 49% stake.

The funds will be used for the capital works program and refinancing requirements in 2018.

The private placements were in the form of a 10-year Norwegian Kroner Nkr550 million fixed rate note and a 12-year Euro €24 million fixed rate note. Cross currency swaps were executed.

Given the low interest rate environment, dividend focused investors have been targeting Spark and other infrastructure stocks such as Transurban Group (ASX: TCL), Sydney Airport Holdings Pty Ltd (ASX: SYD), Macquarie Atlas Roads Limited (ASX: MQA) and Auckland International Airport Limited (ASX: AIA) to boost their income.

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Motley Fool contributor Kevin Gandiya has no position in any of the stocks mentioned.

You can follow Kevin on Twitter @KevinGandiya.

The Motley Fool Australia owns shares of and has recommended Sydney Airport Holdings Limited. The Motley Fool Australia has recommended Transurban Group. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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