Australian incumbent service provider Telstra is considering a seven-year New Zealand dollar bond issue that, according to a fund manager close to the issue, could be at 175 to 180 points over swap.
Last Friday, Telstra held discussions with bond investors in New Zealand on how it could make an offer in place of NZ$ borrowings. Bank of New Zealand, Commonwealth Bank of Australia and Westpac Institutional Bank are overseeing the bond talks.
Right now, Telstra has $185.5 million in New Zealand kauri bonds outstanding.
- Reuters has this article
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