Heritage Bank launches A$50 million 10NC5 tier-two transaction
- Tuesday, 16 June 2020
On 16 June, Heritage Bank (Baa1/BBB+) launched a new A$50 million (US$34.7 million), 10-year non-call five-year (10NC5), tier-two, floating-rate note transaction. Indicative price guidance for the forthcoming deal, which is expected to price on the day of launch, is 350-360 basis points area over three-month bank bills. The notes are expected to be rated Baa3, according to joint lead managers ANZ and National Australia Bank.
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