04/09/2009 - 14:48

Wesfarmers issues $500m in term notes

04/09/2009 - 14:48

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Wesfarmers has raised $500 million via notes with a five-year term which it will use for general funding and to repay shorter term debt.

Wesfarmers issues $500m in term notes

Wesfarmers has raised $500 million via notes with a five-year term which it will use for general funding and to repay shorter term debt.

 

Below is the announcement:

Wesfarmers Limited ("Wesfarmers") today announced the issue of:
-
AUD400 million of unsecured fixed rate medium term notes maturing in September 2014, with pricing of 260 bps over the five year mid swap rate.
-
AUD100 million of unsecured floating rate medium term notes maturing in September 2014, with pricing of 260 bps over the average mid three month BBSW (Bank Bill Reference Rate).

Settlement on the transactions is expected to occur on 11 September 2009.
"We are very pleased with the outcome of the issue and the strong support from investors," said Wesfarmers' Finance Director Terry Bowen. The proceeds will be applied to general group funding and to repay existing shorter term borrowings.
The joint lead managers for the issue are ANZ Investment Bank, Commonwealth Bank of Australia, National Australia Bank and Westpac Banking Corporation.
Wesfarmers is rated BBB+/Stable/A-2 by Standard & Poor's and Baa1//Stable/P2 by Moody's.
For further information

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