Tabcorp's issue a safe bet

The scarcity of offshore debt is creating what could soon be a deep market for note issues from highly-rated companies, and Tabcorp is just the tip of the iceberg.

With the ink barely dried on last week’s interim results, Tabcorp has rushed out a prospectus for a $200 million-plus issue of subordinated debt to get in early in what is expected to be an avalanche of similar issues as the reporting season continues.

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