TCorp to issue A$759m 5.5pct 2013 Benchmark; Funding Strategy 2010
By: Sonia Han | posted February 24th, 2010 14:35
TCorp will issue A$750 million of a new 5.5pct 1 August 2013 un-guaranteed domestic benchmark hotstock tomorrow via competitive tender on Yieldbroker. The issue marks the phase 1 of TCorp’s new transition strategy regarding the end of the Commonwealth guarantee arrangements.
Bids will be accepted in EFP format, as a margin against the March 3yr Bond Futures contract.
Settlement will occur on March 2.
Following this tender TCorp will offer investors one week to switch out of the current CGG 5.25pct 1 May 2013 guaranteed line at an announced spread.
- 2010 total domestic issuance: 64,526 A$m
- View insto league tables
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Deal Log
| Date | Issuer | Facility | Amount (million) |
|---|---|---|---|
| 23/07/2010 | MyState Financial | Domestic RMBS(prime) | 250 AUD |
| 23/07/2010 | Taupo District Council | New Zealand domestic senior institutional | 25 NZD |
| 21/07/2010 | International Finance Corporation (IFC) | Senior Kangaroo | 500 AUD |
| 20/07/2010 | Bank Nederlandse Gemeenten | Senior financial Eurobond | 50 AUD |
| 15/07/2010 | APT Pipelines Ltd | Senior domestic AMTN | 300 AUD |