On the 28th of March 2018, Liberty Financial Pty Ltd (“Liberty”) launched and completed an offer for 3-year Medium Term Notes. The issue concluded with a size of $150 million, upsized from the $100 million at launch.
These securities are structured as fixed-rate, senior, unsecured obligations. Distributions are direct, unconditional and paid on a semi-annual basis in arrears until redeemed. The securities will be issued on the 9th of April 2018 and are priced at 5.10% fixed. The notes will mature on the 9th of April 2021.
Summary details of the transaction are listed in the table below:
|
Product Types |
Medium Term Note |
Issue Price |
$99.821 |
|
Issue Size |
$150,000,000 |
Accrued |
$0.00 |
|
Par Value |
$10,000 |
Capital Price |
$100 |
|
Fixed / Floating |
Fixed |
Running Yield |
5.11% |
|
Payment Frequency |
Semi-annually |
Yield to Maturity |
5.165% |
|
Current Distribution |
5.10% |
Trading Margin Equivalent* |
3.00% |
|
Issue Coupon |
5.10% |
Optional Call Date |
N/A |
|
Franking Credits Inclusive |
No |
Legal Final Maturity |
9 April 2021 |
|
ASX Listed |
N/A |
Next Ex-Date |
2 October 2018 |
|
Convertible |
No |
Next Payment Date |
9 October 2018 |
|
GICS Sector |
Diversified Financials |
Next Cash Distribution |
$255.00 |
* Equivalent to Mid Swaps + 3.00%.
--------------------------------------------------------------------------------------------------------------------------------------------------------
Click here to access our Full Research Report.
