Chicago, April 27 – NBN Co. Ltd. sold $2 billion of notes in two parts on Monday, according to a market source.
The company priced $750 million 1.45% notes due May 5, 2026 with a Treasuries plus 67 basis points spread. The notes priced tighter than initial price talk in the Treasuries plus 90 bps area.
A second tranche of $1.25 billion sold with a 2.625% coupon and a May 5, 2031 maturity. The notes priced with a 107 bps spread over Treasuries, lower than talk that had them coming in the 130 bps area.
BofA Securities Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC were bookrunners for the Rule 144A and Regulation S transaction.
NBN designed, built and operates Australia’s wholesale broadband access network. The company is wholly owned by the Commonwealth of Australia.
| Issuer: | NBN Co. Ltd.
|
| Issue: | Notes
|
| Amount: | $2 billion
|
| Bookrunners: | BofA Securities Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC
|
| Trade date: | April 27
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| 2026 notes
|
| Amount: | $750 million
|
| Maturity: | May 5, 2026
|
| Coupon: | 1.45%
|
| Spread: | Treasuries plus 67 bps
|
| Price talk: | Treasuries plus 90 bps area
|
|
|
| 2031 notes
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| Amount: | $1.25 billion
|
| Maturity: | May 5, 2031
|
| Coupon: | 2.625%
|
| Spread: | Treasuries plus 107 bps
|
| Price talk: | Treasuries plus 130 bps area
|
|
|
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