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-Citi, RBS lead Export Finance Insurance's AUD500m bond offer.

BANKING AND CREDIT NEWS-November 4, 2010--Citi, RBS lead Export Finance Insurance's AUD500m bond offer(C)2010 M2 COMMUNICATIONS

4 November 2010 - Citigroup (NYSE:C) and the Royal Bank of Scotland (LON:RBS) handled a new AUD500m (USD497m/EUR534m) bond issue of Australian government-backed Export Finance Insurance Corp, Reuters said today.

The top-rated government agency, which offers insurance and funding to local export firms, raised the issue amount from the original AUD300m and priced the offer at 73.4 basis points above the government bond with the same maturity, the issue arrangers told the news service.

One source said the final pricing of 29 basis points over swap was a tad below the 30 basis points guidance.

The bonds, due on 12 November 2020, carry a 6.0% coupon and were re-offered at 100.343% to yield 5.954%.

The issue was subscribed by some 20 investors including international ones.

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Publication:M2 Banking & Credit News (BCN)
Date:Nov 4, 2010
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