Liberty Financial Pty Ltd (“Liberty”) today successfully priced its ninth senior unsecured medium-term note issue (“MTN”). Since establishment of the MTN program, Liberty has issued an aggregate value of approximately A$1.5 billion. Deutsche Bank, National Australia Bank and Westpac Institutional Bank are Joint Lead Managers.
The transaction comprises A$200 million of 4 year floating rate MTN due 17 March 2025. The MTN will bear an interest rate of three month BBSW plus 2.45%, payable quarterly.
The proceeds from the issue will be used to redeem the $225 million MTN issue maturing on 9 April 2021 which paid a coupon of 5.10%. The MTN will be issued pursuant to the Information Memorandum dated 5 March 2015 and the related pricing supplement. The transaction will settle on 17 March 2021. Liberty is investment grade rated BBB- (Outlook Stable) by Standard and Poor’s (Australia).
Rod Everitt, Managing Director at Deutsche Bank, said “The pricing of the issue reflected the strong performance of Liberty’s previous issues and performance in secondary markets.”
Josh Sife, Director, Capital Markets Origination at National Australia Bank added “We are extremely pleased with the high-quality and broad range of investor participation in the issue.”
Robert Moulton, Director, Frequent Borrowers & Syndicate at Westpac Institutional Bank, said “With their ninth issuance, Liberty has reinforced its established credentials as a programmatic MTN issuer.”
“Liberty is a leader in providing households and small businesses with the freedom to choose from a wide range of products and services to meet their financial needs. We are grateful for the support of our investors and look forward to continually building a successful MTN program,” added Peter Riedel, Chief Financial Officer at Liberty.
Liberty is a member of the Liberty Financial Group (ASX: LFG).
© Liberty Financial Group Limited (ACN 125 611 574) and Liberty Fiduciary Ltd (ACN 119 884 623).