By Cristal Cody
Chicago, Sept. 28 – NBN Co. Ltd. priced $2 billion of notes in three parts on Tuesday, according to a market source.
The $600 million of 0.875% three-year notes priced at Treasuries plus 43 basis points, after being talked with a yield in the Treasuries plus 65 bps area.
The $700 million of 1.625% notes due Jan. 8, 2027 priced with a spread of 70 bps over Treasuries, and were being talked with a yield in the Treasuries plus 87.5 bps area.
The $700 million of 2.5% notes due Jan. 8, 2032 priced with a spread of 100 bps over Treasuries, and were being talked with a yield in the Treasuries plus 120 bps area.
BofA, Citigroup, Deutsche Bank, Goldman Sachs and HSBC are the bookrunners for the offering.
NBN operates Australia’s wholesale broadband access network and is wholly owned by the Commonwealth of Australia.
| Issuer: | NBN Co. Ltd.
|
| Issue: | Notes
|
| Amount: | $2 billion
|
| Bookrunners: | BofA, Citigroup, Deutsche Bank, Goldman Sachs and HSBC
|
| Trade date: | Sept. 28
|
|
|
| 2024 notes
|
| Amount: | $600 million
|
| Maturity: | Oct. 8, 2024
|
| Coupon: | 0.875%
|
| Spread: | Treasuries plus 43 bps
|
| Price talk: | Treasuries plus 65 bps area
|
|
|
| 2027 notes
|
| Amount: | $700 million
|
| Maturity: | Jan. 8, 2027
|
| Coupon: | 1.625%
|
| Spread: | Treasuries plus 70 bps
|
| Price talk: | Treasuries plus 87.5 bps area
|
|
|
| 2032 notes
|
| Amount: | $700 million
|
| Maturity: | Jan. 8, 2032
|
| Coupon: | 2.5%
|
| Spread: | Treasuries plus 100 bps
|
| Price talk: | Treasuries plus 120 bps area
|
|
|
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