Export Development Canada launches A$300 million five-year bonds at BBSW plus 21 bps

By Cristal Cody

Prospect News, July 26 - Export Development Canada (Aaa/AAA//) launched an offering of A$300 million of five-year Kangaroo bonds at a spread of 21 basis points over the three-month bank bill swap rate in the Aussie market on Thursday, an informed bond source said.

The deal is expected to price overnight and likely will be upsized, the source said.

Citigroup Global Markets Inc., TD Securities Inc. and Commonwealth Bank of Australia are the lead managers.

Ottawa-based Export Development Canada provides financing, insurance and risk management to Canadian exporters and investors.

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