As published in The Australian on Saturday 15 June 2020
Virgin Australia’s administration is a recent low point for Australian financial markets, with mums and dads being caught holding corporate bonds that may prove worthless.
The airline business is inherently risky. Oil prices, currency fluctuations, a commodity-like service and the threat...
Telstra, Transurban and APT Pipelines all issued euro-denominated bonds over the last few months, accessing the busier than usual European bond market.
In contrast, the domestic corporate bond market has been relatively quiet until last week when Woolworths broke the drought and bought a $1 billion, dual tranche deal to...
Today, Macquarie Bank cancelled its planned new $500m hybrid issue. Macquarie stated, ‘The decision to withdraw was made given significantly changed market conditions in recent weeks’. Macquarie also stated that the news did not impact its commitment to repay the $429m outstanding on MBLPA due 24 March 2020 or...
NAB announced it has raised at least $1.95bn for general corporate purposes including refinancing its existing hybrid (ASX:NABPC) which has $1.3bn outstanding.
The margin was finalised at the lower end of the bookbuild range at 295 basis points.
The first optional exchange will be on 17 September 2027 with mandatory exchange...
Macquarie Bank launched a new hybrid earlier this month and planned to raise at least $400m, for ‘general corporate purposes’ with the capacity to accept more. It raised $425m at a margin 290 basis points (2.9%) over 3 month BBSW. The hybrid will trade under (ASX:MBLPB) and is expected...
