$200m Telstra bond issue oversubscribed

Telstra has successfully completed a $200 million Kauri bond issue, made up of seven and 10-year tranches worth $100 million each.

The bonds were priced at 0.35 per cent and 0.45 per cent over the respective seven and 10-year New Zealand interest rate swap rates at the mid-point of the indicated pricing range.

Telstra said yesterday the pricing gave investors an "attractive yield" of 6.99 per cent and 7.15 per cent.

The issue was oversubscribed.