TCL buys Cross City Tunnel debt

Group will acquire all of the Royal Bank of Scotland's $475 million in debt in Sydney's Cross City Tunnel.

Transurban Group (TCL) will acquire all of the Royal Bank of Scotland's (RBS) $475 million in debt exposure to the Cross City Tunnel in Sydney.

In a statement to the Australian Securities Exchange, Transurban said it will also pay an additional fee of up $27.5 million over four years to RBS in the event of material traffic outperformance relative to Transurban's base assumptions.

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