Sept 1 (Reuters) - Qantas Airways Ltd QAN.AX :
* CONFIRMS $500 MILLION UNSECURED BOND ISSUE
* PROCEEDS WILL STRENGTHEN SHORT TERM LIQUIDITY AND THEN BE USED TO PAY $400 MILLION IN BONDS DUE TO EXPIRE IN JUNE 2021
* COUPON FOR NEW BOND, WHICH WAS OVERSUBSCRIBED, IS 5.25 PER CENT - SIGNIFICANTLY LOWER THAN 7.5 PER CENT FUNDING IT REPLACES.
* CONTINUES TO HAVE NO FINANCIAL COVENANTS ON ANY OF ITS DEBT