PRICED: Mirvac Group AUD400m 6.5yr FXD Green note at ASW+150
Mirvac Group Finance Ltd ("Mirvac" / Ticker: MGRAU), rated A3 (Stable) by Moody’s and A- (Stable) by Fitch, has priced a new AUD 400 million 6.5-year 5.15% senior unsecured Green benchmark transaction. The transaction has a re-offer spread of semi-quarterly coupon matched asset swap +150bps, which equates to a re-offer yield of 5.202%, coupon of 5.15% and re-offer price of 99.711%. Settlement date is 30 August 2024 (T+6) and Maturity date is 18 March 2031. The notes are expected to be rated A3 by Moody’s and A- by Fitch. ISIN: AU3CB0312841. ANZ, Mizuho and Westpac are Joint Lead Managers. Proceeds will be used to finance or refinance eligible green projects, assets or activities which meet the Climate Bonds Initiative's (CBI) Climate Bonds Standards in accordance with Mirvac’s Sustainable Financing Framework dated March 2022.
*** UPDATE 4 ***
+ Allocation released
+ Final orderbook in excess of A$[1.69]bln (include A$[70]m JLM interest)
+ Price set at S/Q ASW +150bps | Indicative yield of [5.20%]
+ Deal sized A$400mln
+ WBC B&D
+ ISIN: AU3CB0312841
*** BOOKS CLOSED ***
*** UPDATE 3 ***
+ Orderbook in excess of A$[1.67]bln (include A$[70]m JLM interest)
+ Price Guidance revised to S/Q ASW +150bps (the #) | Indicative yield of [5.202%]
+ Deal size expected at A$300-400mln
+ Orderbook to close at 1:00pm SYD | 12:00pm TKY | 11:00am HK/SG
+ WBC B&D
+ ISIN: AU3CB0312841
*** UPDATE 2 ***
+ Soft and firm orderbook in excess of A$1.34bln (include A$[60]m JLM interest)
+ Price Guidance unchanged at S/Q ASW +[160]bps area | Indicative yield of [5.305%]
+ Orderbook expected to close no later than 12:30pm SYD | 11:30am TKY | 10:30am HK/SG
+ WBC B&D
+ ISIN: AU3CB0312841
*** UPDATE 1 ***
+ IOIs in excess of A$970mln (include A$[60]m JLM interest)
+ Price Guidance revised to S/Q ASW +[160]bps area | Indicative yield of [5.305%]
+ Orderbook expected to close no later than 12:30pm SYD | 11:30am TKY | 10:30am HK/SG
+ WBC B&D
+ ISIN: AU3CB0312841
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