REG - Telstra Corp. Ld - Telstra nbn receipts monetisation proposal <Origin Href="QuoteRef">TLS.AX</Origin>

TelstraAnnouncement

30/08/2017 07:00

RNS Number : 2393P
Telstra Corporation Ld
30 August 2017
30 August 2017 
The Manager
RNS
Office of the Company Secretary
Level 41
242 Exhibition Street
MELBOURNE VIC 3000
AUSTRALIA
General Enquiries 08 8308 1721
Facsimile 03 8600 9800
ELECTRONIC LODGEMENT
Dear Sir or Madam
Telstra nbn receipts monetisation proposal
In accordance with the Listing Rules, I attach market release, for release to the market.
Yours faithfully
 
Damien Coleman
Company Secretary


MARKET RELEASE
30 August 2017
Telstra nbn receipts monetisation proposal
Telstra announced a proposal to the market on 17 August to monetise a portion of its locked-in recurring nbn receipts.
This proposal was subject to agreement and a number of steps including approvals and consents from investors, the Commonwealth Government and nbn co. 
While the proposal is well progressed and supported by equity and debt investors, Telstra has been advised this morning that technical consents from nbnco will not be forthcoming. 
nbn co stated: "Essentially we can't see how nbn's position can be protected/improved by Telstra's securitisation plan especially given the unpredictability of our operating environment in the 2020s."
The proposed transaction highlighted the significant value in Telstra's core underlying telecommunications infrastructure as represented by the potential nbn monetisation opportunity. The process has shown the value of these payments to Telstra shareholders. 
Telstra also confirmed that its shares trade ex-dividend today.
Media contact: Jon Court, +61 (0) 408 423 516 
Email: media@team.telstra.com 
Investor contact: Peter Kopanidis, +61 (0) 412 171 673 
Email: investor.relations@team.telstra.com 

This information is provided by RNS
The company news service from the London Stock Exchange
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