Teachers Mutual prints A$100 million three-year FRN

Wednesday, 16 October 2019

Issuer: Teachers Mutual Bank
Issuer rating: BBB/Baa1
Issue rating: as issuer
Pricing date: 16 October 2019
Settlement date: 28 October 2019
Maturity date: 28 October 2022
Lead managers: National Australia Bank, Westpac Institutional Bank

Volume: A$100 million (US$67.3 million)
Total outstanding in the line: A$100 million
Coupon type: FRN
Coupon rate: 3m BBSW +90bp
Issue/re-offer price: par
Margin to swap: 90bp/3m BBSW