Liberty Financial prices its fifth MTN issue

29 Aug 2019 | Share:

Liberty Financial Pty Ltd (“Liberty”) today successfully priced its fifth senior unsecured medium term note issue (“the Notes”). This is Liberty’s second floating rate note MTN. Since the establishment of the program Liberty’s MTN issuance has surpassed A$1 billion. Deutsche Bank, National Australia Bank and Westpac Institutional Bank are Joint Lead Managers.

The transaction comprises A$200 million of floating rate Notes due 6 March 2023. The Notes will bear an interest rate of three month BBSW plus 2.60%, payable quarterly.

The Notes will be issued pursuant to the Information Memorandum dated 5 March 2015 and the related pricing supplement. The transaction will settle on 6 September 2019. Liberty is investment grade rated BBB- (Outlook Stable) by Standard and Poor’s (Australia).

Allan O’Sullivan, Executive Director, Head of Frequent Borrowers & Syndicate at Westpac Institutional Bank, said “The fifth issuance by Liberty was well supported by new and existing investors which is an endorsement of the durability and strength of Liberty’s distinguished business model.”

Josh Sife, Director, Capital Markets Origination at National Australia Bank added “We are extremely pleased with the high quality investor participation and ongoing willingness by a broad range of accounts to support the growth of this issuer.”

Rod Everitt, Managing Director at Deutsche Bank, said “The pricing of the issue reflected the strong performance of Liberty’s previous issues in secondary markets.”

“Liberty is a leader in providing households and small businesses with the freedom to choose from a wide range of products and services to meet their financial needs. We are grateful for the support of our investors and look forward to continually building a successful MTN program,” added Peter Riedel, Chief Financial Officer at Liberty.