News
Qantas bond sale raises US$365 million
September 17th 2021
Qantas has completed a A$500 million (US$365 million) corporate bond sale. Read More » The bonds have a seven-year term and an interest rate of 3.5%. The company said in a regulatory filing to the Australian Securities Exchange (ASX) the funds will refinance a $300 million bond maturing in May 2022, boost liquidity and "help in the balance sheet repair program". The bond issuance to refinance the May 2022 bonds was oversubscribed by a factor of six, with a book build of around $1.9 billion and highly competitive rates, the airline said. "That led to the upsizing of the transaction to $500 million," Qantas said. "The cost of the new funding represents a significant saving for the group. The rate for this unsecured bond of 3.5% is materially below the 7.75% rate that applies to the maturing bond."
