Suncorp does A$1 billion 2013 as pricing stabilises
The A$1 billion (US$855.9 million) of four-year paper priced by Suncorp-Metway (Suncorp) (A/A1/A+) on September 8 appears to indicate a slowing down of the rapid price contraction seen over recent weeks. The deal offered A$200 million of fixed rate paper at a margin of 38 basis points over swap and A$800 million of floating rate notes at the same margin to bank bill swap rate (BBSW).
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Wesfarmers tightens margin on A$500 million five-year
Wesfarmers (BBB+/Baa1) has priced its five-year domestic bond transaction a day after its
September 3 launch, tightening the margin on the A$500 million deal to 260 basis points over swap and bank bill swap rate from the indicative level of 275 basis points over. The issuer sold A$400 million of fixed rate bonds and a further A$100 million of floating rate paper in the September 2014 maturity line.
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