Bond Factsheet
NBNAUS 6.100% 15Oct2036 Qsov (USD)
NBN Co Limited
Indicative
Full Lot
Bid Price 103.268
Change in Bid Price 0.278
Bid Yield (%) 5.656 %
Change in Bid Yield 0.037
Ask Price 103.632
Change in Ask Price 0.328
Ask Yield (%) 5.607 %
Change in Ask Yield 0.044
Indicative price as of 06 Nov 2026, 4:03pm
Ask Yield to Worst
Bid Yield to Worst
Ask Yield to Maturity
Bid Yield to Maturity
Bond Issuer
NBN Co Limited
Guarantor
-
Announcement Date
07 Oct 2026
Issue Date
15 Oct 2026
Maturity Date
15 Oct 2036
Years to Maturity / Next Call
9.938 / 9.686
Modified Duration
7.402 @ 06 Nov 2026
Issue / Reoffer Price
99.719
Issue / Reoffer Yield
6.138
Coupon Type
Fixed
Annual Coupon Rate
6.100
Coupon Frequency
Semi Annually
Seniority
Senior Unsecured
Reference Rate
-
ISIN
US62878V2M11
CUSIP
62878V2M1
Bond Currency
USD
Total Issue Size
600,000,000
Min. Investment Quantity (Nominal)
USD 200,000
Incremental Quantity (Nominal)
USD 1,000
Bond Type
Quasi-Sovereign
Bond Sector
Telecommunication Services
Bond Sub Sector
Wireless Telecommunication Services
Issuer Credit Rating (S&P/ Fitch)
***/ AA+
Bond Credit Rating (S&P/ Fitch)
***/ AA+
Shariah Compliant
No
Exchange Listed
No
Issuer Call
If Issuer Call is specified as being applicable in the applicable Pricing Supplement, the Issuer may, having given not less than 15 days’ nor more than 30 days’ notice to the Noteholders in accordance with Condition 12 (or such other maximum and minimum notice period as may be specified in the applicable Pricing Supplement), which notice shall be irrevocable and shall specify the date fixed for redemption, redeem all or some only of the Notes then outstanding on any Optional Redemption Date and at the Optional Redemption Amount(s) specified in, or determined in the manner specified in, the applicable Pricing Supplement together, if appropriate, with interest accrued to (but excluding) the relevant Optional Redemption Date. Any such redemption must be of a nominal amount not less than the Minimum Redemption Amount and not more than the Maximum Redemption Amount, in each case as may be specified in the applicable Pricing Supplement.
The Issuer may redeem any of the Notes:
(1) on or after [TBD] July 2036 (the Par Call Date), at a redemption amount equal to 100 per cent. of the nominal amount of the Notes being redeemed plus any accrued and unpaid interest thereon to but excluding the Optional Redemption Date; or
Par Call: 3 month
Make Whole Call
(2) any time before the Par Call Date, at a redemption amount equal to the Optional Redemption Amount (as defined below).
Optional Redemption Amount means, in respect of the Notes being redeemed, the greater of:
(a) 100 per cent. of the nominal amount of such Notes; and
(b) the sum of the present values of the remaining scheduled payments of nominal amount and interest thereon that would be due if the Notes matured on the Par Call Date (not including any portion of such payments of interest accrued to the Optional Redemption Date) discounted to the Optional Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate, as calculated by an Independent Investment Banker,
plus, in each case, any accrued and unpaid interest thereon to but excluding the Optional Redemption Date.
in each case calculated at 5:00 p.m., New York City time, on the third New York Business Day preceding the Optional Redemption Date, plus [TBD] basis points.
Change Control Put
(a) If:
(i) a Change of Control Trigger Event is specified in the applicable Pricing Supplement; and
(ii) a Change of Control Trigger Event occurs; and
(iii) the Issuer has not exercised its right to redeem the Notes as described in this Condition 7.5,
each Noteholder will have the right to require the Issuer to redeem all or a portion of that Noteholder’s Notes at an amount (the Change of Control Redemption Amount) specified in the applicable Pricing Supplement together with accrued and unpaid interest, if any, to the date of redemption, subject to the rights of Noteholders on the relevant Record Date to receive interest due on the relevant Interest Payment Date (the Change of Control Redemption Right).
A Change of Control Trigger Event occurs if, on the first date of the period (the Trigger Period) commencing upon, the earlier of:
(i) the occurrence of a Change of Control; and
(ii) the date of the first public announcement of any Change of Control (or pending Change of Control),
and ending 90 days following the occurrence of that Change of Control (as such Trigger Period may be extended, as provided for below):
(A) the Notes carry an Investment Grade Rating from any Rating Agency and each such rating is, within the Trigger Period, either downgraded to below an Investment Grade Rating or withdrawn and is not, within the Trigger Period, subsequently (in the case of a downgrade) upgraded to an Investment Grade Rating by such Rating Agency or replaced by an Investment Grade Rating of another Rating Agency; and
(B) in making any decision to withdraw or downgrade such rating pursuant to paragraph (A) above, each relevant Rating Agency has expressly stated that such decision was as a result of the occurrence of that Change of Control (or pending Change of Control).
Where any Rating Agency has publicly announced that it is considering a possible ratings change in respect of the Notes within the period ending 90 days following the occurrence of a Change of Control, the Trigger Period will be extended for a period of not more than 60 days after the date of such public announcement.
Notwithstanding the foregoing, no Change of Control Trigger Event will be deemed to have occurred in connection with any particular Change of Control unless and until such Change of Control has actually occurred.
“Change of Control” means either:
(a) the direct or indirect sale, lease, transfer, conveyance or other disposition, in one or a series of related transactions, of all or substantially all of the assets of the Issuer to any “person” (as that term is used in Section 13(d)(3) of the U.S. Securities Exchange Act of 1934) other than to the Commonwealth of Australia; or
(b) the Commonwealth of Australia ceases to “control” (as defined for the purposes of section 50AA of the Corporations Act) the Issuer.
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