By William Gullotti and Cristal Cody
Buffalo, N.Y., Nov. 22 – ASB Bank Ltd. priced $650 million of 5.398% five-year notes at a spread of 140 basis points over Treasuries on Monday, according to information from a market source.
The notes priced low to talk in the Treasuries plus 160 bps area.
Commonwealth Bank of Australia, Barclays, Citigroup and JPMorgan are the joint bookrunners.
ASB Bank is an Auckland, New Zealand-based subsidiary of the Commonwealth Bank of Australia.
| Issuer: | ASB Bank Ltd.
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| Amount: | $650 million
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| Issue: | Notes
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| Maturity: | Nov. 29, 2027
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| Bookrunners: | Commonwealth Bank of Australia, Barclays, Citigroup and JPMorgan
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| Coupon: | 5.398%
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| Spread: | Treasuries plus 140 bps
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| Pricing date: | Nov. 21
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| Initial talk: | Treasuries plus 160 bps area
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