Spark Finance is the first New Zealand domiciled corporate issuer to execute a public debt capital markets transaction in 2020 – and it chose Australia for its 28 May deal. The borrower says establishing and maintaining a funding presence in Australian dollars is a key component of its debt strategy.
On 28 May, Spark Finance (A- by S&P) launched a new six-year, Australian dollar denominated transaction. The forthcoming deal is being marketed at 155 basis points area over semi-quarterly swap and is expected to price on the day of launch. ANZ and Westpac Institutional Bank are leading.