AGL cancels bank lines 26 July 2010 4:35PM Philip Bayley AGL Energy (rated BBB) advised the ASX on Friday morning that it had priced a US$300 million bond issue in the traditional private placement market in the US. The issue comprised two tranches: US$165 million with a term to maturity of 12 years; and US$135 million with a 15 year term to maturity.In a cutting remark, AGL said the proceeds from the issue would be used to cancel bank debt facilities. This came just a day after the CBA was savaged on the front page of the Financial Review - in an article scant on attributed comments - for the poor treatment of its corporate clients during the height of the GFC.We note that these claims were refuted on Friday, in a letter to the editor from Ian Saines, the CBA's head of institutional banking and markets.By our counting AGL is the seventh Australian issuer in traditional private placement market this year. That said, issuance volumes have not been great with a total of just over US$2.0 billion raised.