BMW opens corporate Aussie bond market with 4.5 year
BMW became the first foreign company to tap the Australian dollar bond market this year on Monday, selling a long four year deal that extended its curve in the currency.
ANZ and HSBC priced the A$200m 4.375% July 2018 bonds at 74bp over mid-swaps, in line with guidance of 74bp area.
The issuer opted for a 4.5 year to differentiate the deal from a four year it had sold in November. The slightly higher yield it was therefore
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