Bendigo Bank launches Euro-Note issue
Bendigo Bank Limited launched US$100m of floating rate Euro-Notes in London last night. The bonds will settle on 27 September 2000 and mature on 27 September 2002. This was its second offshore public debt offering.
Chief Financial Officer Craig Langford said this was further evidence of the growing support for the bank's strategies by international investors.
The issue was priced at a re-offer of 99.85, with a coupon of 3-month US LIBOR +40bp, to give investors a yield of 48 basis points over the US dollar London Interbank Offered Rate.
David Tudor, Group Treasurer of Bendigo Bank, said that this new two-year issue further diversifies Bendigo Bank's wholesale investor base and demonstrates the Bank's commitment to establishing a benchmark funding curve in the offshore market.
Deutsche Bank AG and Westdeutsche Landesbank were Joint Lead Managers to the issue, following an extensive roadshow through Asia and Europe.
The Notes were issued under the Bank's US$500m Euro MTN programme, which is rated BBB- by Standard & Poors and BBB by Fitch IBCA, and will be listed on the London Stock Exchange.