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AUSTRALIA'S TABCORP ISSUES 5-YEAR BONDS TO PAY 4.25% OVER BILLS.
SYDNEY, April 1 Asia Pulse - Tabcorp Holding Ltd (ASX:TAH) has set the margin on its corporate bond offer after an institutional bookbuild.
The five year floating rate bonds, to be issued to institutions, smaller Tabcorp shareholders and the public, will pay a margin of 4.25 per cent over bank bills, in the middle of guidance for a margin between four per cent and 4.50 per cent.
Tabcorp has allocated A$200 million (US$139.1 million) worth to institutional investors through the bookbuild process.
The final size of the issue will depend on the amount applications received under the shareholder and general public offer.
"We are very pleased with the positive response to the offer of Tabcorp bonds," chief executive Elmer Funke Kupper said in a statement.
"The successful bookbuild reflects the strong support we have received since announcing the offer last week.
"The offer is now open."
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Source: HighBeam Research, AUSTRALIA'S TABCORP ISSUES 5-YEAR BONDS TO PAY 4.25% OVER BILLS.