By Aleesia Forni
Virginia Beach, March 4 – Commonwealth Bank of Australia issued $3 billion of notes (Aa2/AA-/AA-) on Wednesday in three tranches, a market source said.
There was a $750 million tranche of floating-rate notes due 2018 priced at Libor plus 40 basis points.
Guidance was set in the Libor plus 43 bps area.
A second tranche was $1.25 billion of 1.625% notes due 2018 sold at 62 bps over Treasuries.
The three-year fixed-rate notes were guided in the 65 bps area over Treasuries.
A $1 billion tranche of 2.3% notes due 2020 sold at Treasuries plus 75 bps.
The five-year notes priced at the tight end of guidance set in the area of Treasuries plus 78 bps.
Bookrunners were Citigroup Global Markets Inc., Commonwealth Bank of Australia, HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC.
Commonwealth Bank of Australia is a Sydney-based banking and financial services company.
| Issuer: | Commonwealth Bank of Australia
|
| Issue: | Notes
|
| Amount: | $3 billion
|
| Bookrunners: | Citigroup Global Markets Inc., Commonwealth Bank of Australia, HSBC Securities (USA) Inc., J.P. Morgan Securities LLC
|
| Trade date: | March 4
|
| Ratings: | Moody’s: Aa2
|
| Standard & Poor’s: AA-
|
| Fitch: AA-
|
|
|
| Three-year floaters
|
| Amount: | $750 million
|
| Maturity: | March 12, 2018
|
| Coupon: | Libor plus 40 bps
|
| Price talk: | Libor plus 43 bps area
|
|
|
| Three-year notes
|
| Amount: | $1.25 billion
|
| Maturity: | March 12, 2018
|
| Coupon: | 1.625%
|
| Spread: | 62 bps
|
| Price talk: | 65 bps area
|
|
|
| Five-year notes
|
| Amount: | $1 billion
|
| Maturity: | March 12, 2020
|
| Coupon: | 2.3%
|
| Spread: | 75 bps
|
| Price talk: | 78 bps area
|
|
|
|
|
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