What are your borrowing plans for the year
We are preparing a $300 million 30 year bond, which is part of our funding requirement for the year. We decided to issue a 30 year bond because the domestic capital market accomodates only maturities of five years or less.This means our average debt duration is relatively short - it is slightly over four years. So we'd like to extend the duration.
Also the treasury yield is relatively low so this is perfect timing and so we can take advantage of the very low benchmark yield and very tight spread. We believe we can issue the 30 year bond with a total yield...
