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Brief: Liberty prices $150m senior unsecured notes

•    Liberty Financial, rated BBB- (stable) by Standard & Poor's, has priced its third senior unsecured medium term note issue. This transaction comprises A$150 million of fixed rate notes, due 9 April 2021, with a coupon of 5.10 per cent (semi-annually in arrear). The re-offer price of 99.821 per cent means the initial yield will be 5.165 per cent semi-annually. This equates to 300 basis points over semi-quarterly asset swap, according to a release from Westpac Institutional Bank, which acted as a joint lead manager alongside National Australia Bank. Liberty said the new note issue will redeem its inaugural three year note issue, which matures on 9 April 2018.

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