Broker Center sponsored links

Australia's Telstra meets Japanese bond investors

Thu Apr 10, 2008 8:41pm EDT
 
Email | Print | | Reprints | Single Page
[-] Text [+]
 (For the latest Australia and New Zealand bond news, double
click on [AU/CRD] and then double click on the ID number)
 SYDNEY, April 11 (Reuters) - Telstra (TLS.AX: Quote, Profile, Research, Stock Buzz), Australia's
largest telephone company, is meeting with Samurai bond
investors in Japan, a market source said on Friday.
 Daiwa and Nomura are hosting the non-deal roadshows, which
are taking place this week, the source added.
 Telstra said earlier in the month it was planning to sell a
Samurai bond debut issue, but did not say when.
 The company filed a registration with authorities in Japan
for a 150 billion yen ($1.5 billion) Samurai issue in late
February.
 Samurai bonds are yen-denominated bonds sold by foreign
issuers in Japan.
 Australian banks were the most prolific issuers of Samurai
bond issues in the first quarter of 2008, raising $2.9 billion
equivalent of bonds, according to Thomson data. With around 60
percent of the market share, Australian issuers came far ahead
of No.2 issuer the United States.
 Telstra, rated A by S&P and Fitch and A2 by Moody's, raised
500 million euros ($794 million) of five-year bonds at 190
basis points over swap last week. BNP Paribas and JPMorgan
jointly led the sale.
 ($1=101.8 yen, 0.63 euros)
 (Reporting by Cecile Lefort) 

 

Featured Broker sponsored link

Editor's Choice

Photo

A selection of our best photos from the past 24 hours.  View Slideshow 

Most Popular on Reuters