By Cristal Cody
Tupelo, Miss., Oct. 8 – Commonwealth Bank of Australia priced $1.25 billion of 1.625% three-year covered bonds (Aaa//AAA) on Tuesday at a spread of mid-swaps plus 30 basis points, or Treasuries plus 27.8 bps, according to a market source.
Initial price talk was in the mid-swaps plus 33 bps area.
Commonwealth Bank of Australia, HSBC Securities (USA) Inc., RBC Capital Markets LLC and TD Securities (USA) LLC were the bookrunners.
The bank and financial services company is based in Sydney.
| Issuer: | Commonwealth Bank of Australia
|
| Amount: | $1.25 billion
|
| Description: | Covered bonds
|
| Maturity: | Oct. 17, 2022
|
| Bookrunners: | Commonwealth Bank of Australia, HSBC Securities (USA) Inc., RBC Capital Markets LLC and TD Securities (USA) LLC
|
| Coupon: | 1.625%
|
| Spread: | Mid-swaps plus 30 bps, or Treasuries plus 27.8 bps
|
| Trade date: | Oct. 8
|
| Ratings: | Moody’s: Aaa
|
| Fitch: AAA
|
| Price guidance: | Mid-swaps plus 33 bps area
|
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