Business Services Industry
AUSTRALIA'S MACQUARIE BANK LAUNCHES MCIG FLOAT.
AsiaPulse News, July, 2002
SYDNEY, July 8 Asia Pulse - Macquarie Bank Ltd (ASX:MBL) today kicked off the scaled down, $A310 million ($US172.98 million) float of its communications infrastructure business, luring investors with $A24 million ($US13.39 million) in forecast cash returns in 2002/03.
Investors in Macquarie Communications Infrastructure Group (MCIG) were also assured of predictable returns until 2005, backed by its heavy reliance on government-sourced revenue.
MCIG's only asset is Broadcast Australia, the owner and operator of broadcast transmission infrastructure used mainly by the government-funded ABC and SBS.
About 89 per cent of Broadcast Australia's forecast revenues for fiscal 2003-05 are already locked into contracts, with 79 per cent of those revenues to...
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