Qantas sells $300m of senior notes

Proceeds from the Deutsche Bank managed bond sale will be used to repay shorter-term debt to improve the airline's gearing profile.

Qantas Airways (QAN) has sold $300 million of eight year, senior, unsecured fixed rate notes. The proceeds will be used to repay debt due in 2016.

The bonds, due May 19, 2022, carry a 7.75% annual coupon and their spread is at a semi quarterly asset swap plus 400 basis points, a pricing sheet emailed to Data Room said. Australia’s biggest airline wanted to sell at least $100m of debt.


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