UPDATE 1-Australia's Tabcorp to issue A$150 mln FRNs

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SYDNEY, June 12 (Reuters) - Tabcorp Holdings Ltd (TAH.AX),
Australia's biggest gaming company, plans to raise A$150
million ($122 million) through institutional notes, it said on
Friday.

The floating-rate notes will pay quarterly interest,
calculated as a margin of 4.25 percent over the three-month
bank bill rate. The unlisted notes mature on May 1, 2014.

Deal details are as follows:

Issuer: Tabcorp Investments Pty Ltd

Guarantors: Tabcorp Holdings Ltd.

Instrument: Senior unsecured floating rate notes

Amount : A$150 mln

Rating: BBB+ stable (S&P)

Coupon : 3-mth BBSW+4.25 percent

Maturity : May 1, 2014

Lead: UBS Investment Bank
(Reporting by Anirban Nag)