Qantas Raises US$450 Million

Qantas Airways Limited announced today that it had successfully raised US$450 million of senior unsecured debt.

The Chief Financial Officer of Qantas, Peter Gregg, said the funds had been raised through a Rule 144A/Regulation S offering of 5.125 per cent coupon 10-year notes due June 2013.
The offering was priced at 187.5 basis points over the 10 year U.S. benchmark treasury bond and was rated Baa1 by Moody`s Investor Services and BBB+ by Standard & Poor`s.

Mr Gregg said there was strong investor demand for the offering which was distributed to US, European and Asian institutional investors.
“The net proceeds from the offering will be used to refinance maturing debt and for general corporate purposes,” Mr Gregg said.
“The success of the offering is a testament to the strategy that the company has been adopting to maintain its position as one of the leading airlines within the sector.”
This press release has been prepared for publication in Australia and may not be released in the United States. This press release does not constitute an offer of securities for sale in Australia, the United States or any other jurisdiction. Any securities described in this press release may not be offered or sold in the Unites States absent registration under the US Securities Act of 1933 or an exemption from registration.
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