Australian Unity Ltd. is issuing the first tranche of two series of floating-rate bonds totaling A$300 million, with a minimum offer size of A$50 million.
The company will issue its series C bonds due Dec. 15, 2024, and series D bonds due Dec. 15, 2026, at A$100 apiece. The issue date for the Australian dollar-denominated bonds is Oct. 15.
Interest on the bonds will be paid every Jan. 14, April 14, July 14 and Oct. 14, starting Jan. 14, 2020.
Proceeds will be used to refinance the first tranche of the series B Australian Unity bonds that participate in the reinvestment offer, as well as for general corporate purposes.
Acacia Partners Pty. Ltd. and National Australia Bank Ltd. are arrangers and joint lead managers. ANZ Securities Ltd. and Evans Dixon Corporate Advisory Pty. Ltd. are also acting as joint lead managers. Link Market Services Ltd. is serving as registrar, while Australian Unity Funds Management Ltd. and JBWere Ltd. are co-managers.