Barclays Bank Plc, Australian Branch A$ Bond Issue


Sydney – On Feb 18, 2011, Barclays Bank Plc, Australian Branch (Barclays) priced a A$1.5 billion 3-year senior unsecured offering. The transaction was priced at 3 month BBSW + 140 bps, and marks the third public senior transaction in the Australian dollar market for Barclays.

The deal was closed within 24 hours of launch on the back of overwhelming support culminating in a A$2.6 billion orderbook. The notes were priced at the tight end of initial guidance of 140 to 145 bps over 3 month BBSW.

Robert Morrice, Chairman and Chief Executive of Barclays in Asia Pacific, said, “We are extremely pleased with the great success of our third Australian dollar senior bond offering, both as evidence of investors’ confidence in us, but also in the Australian capital markets. This is a benchmark deal for Barclays and is an integral part of our commitment to the growth of our Australian franchise. Australia is a key strategic priority for Barclays, and as we continue to build out our business, we are confident that the success of this deal will further strengthen our ability to shape a respected and trusted franchise which is a leading presence in Australia’s financial markets.”

The net proceeds from the offering will be used for general corporate purposes.

Barclays is a major global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services with an extensive international presence in Europe, the Americas, Asia and Africa.

The notes are rated Aa3 (stable) by Moody's and AA- (negative) by S&P. Barclays Capital, ANZ and NAB acted as Joint Lead Managers and Bookrunners for the transaction.

Below are brief terms of the transaction:

Issuer: Barclays Bank Plc., Australian Branch
Format: Senior Unsubordinated Unsecured Notes
Issue ratings: Moody’s / S&P: Aa3 (stable) / AA- (negative)
Issue size: A$ 1,500 million (A$1, 000 million FRN / A$500 million FXD)
Pricing date: 18 February 2011
Settlement/Issue date: 24 February 2011
Maturity date: 24 February 2014
Coupon: 3 month BBSW rate + 140 bps (FRN) / 6.75% (FXD)
Re-offer spread: +140 bps p.a.
Joint Lead Managers: Barclays Capital, ANZ, NAB

This announcement is not an offer for sale of the securities in the United States or elsewhere. The securities referred to herein may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"). Neither the [Issuer] nor any seller of securities intends to register any portion of any offering in the United States or to conduct a public offering of securities in the United States.

Media Enquiries:
Darrell Wright
+65 6308 3490