Telstra, the Australian telecommunications company, today announced plans for a possible $A500 million ($392 million), eight-to-nine year long term bond issue in early March, targeted at domestic and offshore institutional investors.
CFO John Stanhope said the company had been encouraged to return to the domestic market to meet investor demand for a new issue, following the strong performance of its recent $A500 million 10-year bond issuance (maturing in April 2015) in November 2004.
Stanhope said the proposed issue would fill a gap in Telstra’s maturity profile and increase the proportion of its debt raised in the domestic market in line with the company’s objective to diversify funding sources.
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