By Marisa Wong and Cristal Cody
Los Angeles, March 8 – Commonwealth Bank of Australia, acting through its New York branch, sold $1.5 billion of notes in two parts on Monday, according to a market source.
The bank sold $500 million of floating-rate notes due March 13, 2026. Interest is equal to SOFR plus 75 basis points.
The other tranche consisted of $1 billion of 5.316% notes due March 13, 2026 priced with a spread of 70 bps over Treasuries. Initial price talk was in the Treasuries plus 95 bps area.
BofA, Lloyds, Morgan Stanley, RBC and TD were the bookrunners.
The bank and financial services company is based in Sydney, Australia.
| Issuer: | Commonwealth Bank of Australia, New York branch
|
| Amount: | $1.5 billion
|
| Issue: | Notes
|
| Maturity: | March 13, 2026
|
| Bookrunners: | BofA, Lloyds, Morgan Stanley, RBC and TD
|
| Pricing date: | March 6
|
|
|
| Floating-rate notes
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| Amount: | $500 million
|
| Issue: | Floating-rate notes
|
| Coupon: | SOFR plus 75 bps
|
| Initial price talk: | SOFR plus equivalent spread
|
|
|
| Fixed-rate notes
|
| Amount: | $1 billion
|
| Issue: | Fixed-rate notes
|
| Coupon: | 5.316%
|
| Spread: | Treasuries plus 70 bps
|
| Price talk: | Treasuries plus 95 bps area
|
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