NIB’s 5-year Kangaroo deal increased to AUD 625m

NIB has issued an AUD 325 million tranche to increase its 6% Kangaroo deal due 6 April 2015. The total size of the deal has thus been brought to AUD 625 million. The new tranche has an issue/reoffer price of 100.793% to yield 5.7925% semi-annually. This equates to a spread of 75.25bp over the 6.25% ACGB due 15 April 2015. ANZ and RBC CM are acting as joint lead managers for the issue.