NIB’s 10-year Kangaroo deal increased to AUD 875m

NIB has issued its fourth increase, AUD 100 million, to its 10-year Kangaroo issue due 19 April 2022. The total size of the deal has thus been brought to AUD 875 million. The new tranche has an issue/reoffer price of 107.108% to yield 4.10% semi-annually. This equates to a spread of 84.75bp. ANZ and HSBC are acting as joint lead managers for the issue. NIB’s outstanding volume in the Kangaroo market currently totals AUD 1,825 million.