Melbourne Airport and Vodafone looking for long term debt
Following the pricing of the APA Group issue last week came news that Melbourne Airports (rated A-) will be meeting with investors this week. Melbourne Airports has a $250 million, credit wrapped, ten year bond falling due in June next year. There was also news that Vodafone Group Plc (rated A-) has been assessing investor appetite for a seven year issue with indicative pricing at 170 basis points. Vodafone has $265 million of January 2013 bonds outstanding. Perhaps corporate Australia is set to return to the domestic market. Year to date true corporate issuance is running at five per cent of total issuance, which is a little higher than the proportion of 3.5 per cent achieved in 2009 and zero in 2008.