The ASX today priced its inaugural issue, a floating rate issue of A$275 million, unsecured medium-term notes under its newly formed Medium-Term Notes Program due 18 August 2023.
The Notes have a 3-month coupon of BBSW + 93 bps, are priced at par and mature on 26 February 2027. They are denominated in Australian dollars and issued to Australian and international institutional investors. They do not qualify for retail investor distribution.
Subject to customary conditions precedent, settlement of the Notes is expected to occur on February 26, 2024.
Westpac is acting as sole lead manager and underwriter for the proposed issue.
ASX will use the proceeds of the Notes for general corporate purposes.
Managing Director and CEO Helen Lofthouse said:
“This is the first corporate bond issue from the ASX and I am very pleased with the support we have received. This issue is part of our strategy of flexible capital management that supports the long-term viability of the ASX.”