Published on 11/28/2022 in the Prospect News Investment Grade Daily.
New Issue: Commonwealth Bank of Australia sells $1.5 billion 4.928% three-year covered bonds
By Cristal Cody
Chicago, Nov. 28 – Commonwealth Bank of Australia priced $1.5 billion of 4.928% covered bonds with a three-year tenor on Monday, according to a market source.
The notes priced with a spread of 85 basis points over SOFR mid-swaps, or at Treasuries plus 70.1 bps.
BMO, Commonwealth Bank of Australia, RBC and TD Securities were the bookrunners.
The bank and financial services company is based in Sydney.
| Issuer: | Commonwealth Bank of Australia
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| Amount: | $1.5 billion
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| Issue: | Covered bonds
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| Maturity: | Dec. 9, 2025
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| Bookrunners: | BMO, Commonwealth Bank of Australia, RBC and TD Securities
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| Coupon: | 4.928%
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| Spread: | SOFR mid-swaps plus 85 bps, or Treasuries plus 70.1 bps
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| Trade date: | Nov. 28
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