Aussie high-yield gains altitude

摘要

VIRGIN AUSTRALIA gave Australia's tiny high-yield bond market a lift on Tuesday with a A$250m (US$179m) 8.075% five-year non-call three issue that marked the biggest local offering from a Single B rated borrower. Virgin, rated B2/B+ (Moody's/S&P), priced the new senior unsecured medium-term notes inside 8.125%-8.250% guidance and 17.5bp below its smaller debut trade, an A$150m 8.25% five-year non-call three issue in May 2018.