Exim Bank sells $209 m bonds in Oz

Exim Bank raised $209 million (Australian $200 million) in debt in a five- year debt issue programme offering a coupon of 5.76 per cent, merchant bankers said on Thursday.

According to one of the bankers, “Exim Bank $209 million denominated in Australian dollar through a bond sale programme. The issue got over 50 global investors on board.”

The bank priced the five-year senior unsecured notes at mid-swaps plus 2.10 basis points and the five-year issue carries a coupon of 5.76 per cent, they said.

One of the salient features of the deal is that this is the second Australian dollar-denominated bond sale by the bank after its Australian $41 million last April. Exim Bank is the sole entity to have tapped the Australin debt market.

The money was raised by the London branch of the bank and will be listed on the Singapore Stock Exchange. Merchant banking sources said this is part of the USD 6-billion medium term note programme of the bank.

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