March 22 (Bloomberg) -- SP AusNet, which manages a A$6.3 billion ($5.77 billion) electricity and gas network, is replacing bank debt with bonds to get cheaper funding and flexibility to increase loans if bond markets slam shut.The company, 51 percent-owned by Singapore’s Temasek Holdings Pte Ltd., sold notes worth A$920 million in the past six weeks and wants to raise about another A$300 million by year’s end to repay A$775 million of loans and A$185 million of bonds maturing by March 2011, Chief Financial Officer Geoff Nicholson and Treasurer Alastair Watson said in a telephone interview. Full Story
