Australia’s largest grocer Woolworths Ltd has today announced an issue of A$200m (US$100m) off its Medium Term Note (MTN) programme, proceeds from which will fund unspecified corporate expenses.
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Organised through joint lead managers the Commonwealth Bank of Australia and the National Australia Bank, the MTN will mature on 31 January 2007 at a senior unsecured fixed rate.
The issue, which has been rated A-minus (stable outlook) by Standard & Poor’s, was launched with a pricing range of 0.64% to 0.66% above the 5-year s.a. swap rate. The final margin is expected to be announced tomorrow [Friday].
