Barclays' Local Branch Plans to Sell Fixed, Floating Bonds in Australia
Barclays Bank Plc’s Australian branch plans to sell five-year Australian dollar-denominated bonds, according to an e-mailed statement from National Australia Bank Ltd., which is helping to manage the sale.
The fixed- and floating-rate notes are expected to price tomorrow, according to the statement. The sale will be benchmark in size, it said.
The note will be at least A$750 million ($689 million), said a person with direct knowledge of the matter, who declined to be identified before a public announcement.
The fixed-rate portion will price at about 175 basis points to 180 basis points over the benchmark mid-swap rate, the person said. The floating-rate piece will price about 175 basis points to 180 basis points over the three-month bank bill swap reference rate, the person said.
To contact the reporter on this story: Edward Johnson in Sydney at ejohnson28@bloomberg.net
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