SYDNEY, Sept 5 (Reuters) - Queensland Treasury Corporation (QTC) has launched NZ$375 million ($264 million) in 10-year Kauri bonds, its first such issue.
The bond has a maturity of Sept. 18, 2017 and carries a coupon rate of 7.125 percent a year. It was priced to yield 7.18 percent, 97 basis points over the benchmark 2017 New Zealand government bond and 27 basis points under New Zealand dollar swap. The lead managers were ANZ Institutional, Deutsche Bank AG and RBC Capital Markets. QTC is rated triple-A by the main rating agencies.
QTC said the issue was well received, with 77 percent going to offshore investors. This issue brings the total amount of QTC debt on issue to more than A$34 billion. The State funding body has an estimated borrowing program of A$7.6 billion for the 2007-2008 financial year.
The bond has a maturity of Sept. 18, 2017 and carries a coupon rate of 7.125 percent a year. It was priced to yield 7.18 percent, 97 basis points over the benchmark 2017 New Zealand government bond and 27 basis points under New Zealand dollar swap. The lead managers were ANZ Institutional, Deutsche Bank AG and RBC Capital Markets. QTC is rated triple-A by the main rating agencies.
QTC said the issue was well received, with 77 percent going to offshore investors. This issue brings the total amount of QTC debt on issue to more than A$34 billion. The State funding body has an estimated borrowing program of A$7.6 billion for the 2007-2008 financial year.
No comments:
Post a Comment