By William Gullotti and Cristal Cody
Buffalo, N.Y., Sept. 29 – NBN Co. Ltd. sold $1.25 billion of senior notes in two parts (Aa3//AA) on Wednesday, according to a market source.
The company priced $750 million 5.75% notes due Oct. 6, 2028 with a Treasuries plus 108 basis points spread.
A second tranche of $500 million sold with a 6% coupon and an Oct. 6, 2033 maturity. The notes priced with a 143 bps spread over Treasuries.
NBN designed, built and operates Australia’s wholesale broadband access network. The company is wholly owned by the Commonwealth of Australia.
| Issuer: | NBN Co. Ltd.
|
| Amount: | $1.25 billion
|
| Issue: | Senior notes
|
| Trade date: | Sept. 27
|
| Ratings: | Moody’s: Aa3
|
| Fitch: AA
|
|
|
| 2028 notes
|
| Amount: | $750 million
|
| Maturity: | Oct. 6, 2028
|
| Coupon: | 5.75%
|
| Spread: | Treasuries plus 108 bps
|
|
|
| 2033 notes
|
| Amount: | $500 million
|
| Maturity: | Oct. 6, 2033
|
| Coupon: | 6%
|
| Spread: | Treasuries plus 143 bps
|
|
|
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