Proceeds from the issue will be used to refinance $147.5 million of domestic Notes and $118.5 million of revolving bank facilities.

"The US$ Note issue is a significant component of the company's integrated financing strategy which is aimed at smoothing and extending the maturity profile of its loan portfolio," said Envestra's Group Treasurer, Martin Crowley.

"Historically low pricing has been secured for the US$ Note issue as demand from investors in the US is currently strong.

"The Private Placement has also enabled the company to diversify its funding base beyond the existing bank debt and domestic capital arrangements," said Crowley.