By Andrea Heisinger
New York, Nov. 18 - Commonwealth Bank of Australia priced $1.25 billion of 2.7% five-year notes on Wednesday to yield Treasuries plus 52.8 basis points, an informed source said.
The notes were talked at 25 bps over mid-swaps, the source said. The sale was originally announced with both a fixed-rate and floating-rate tranche, but the floaters disappeared, a source away from the deal said.
The notes (Aaa/AAA/AA+) priced at 99.93 to yield 2.715%. They are non-callable.
The issue was sold via Rule 144A and is guaranteed by the Australian government.
Citigroup Global Markets, Commonwealth Bank of Australia and Morgan Stanley ran the books.
The financial services company is based in Sydney, Australia.
| Issuer: | Commonwealth Bank of Australia
|
| Issue: | Notes, guaranteed by Australian government
|
| Amount: | $1.25 billion
|
| Maturity: | Nov. 25, 2014
|
| Bookrunners: | Citigroup Global Markets, Commonwealth Bank of Australia, Morgan Stanley
|
| Coupon: | 2.7%
|
| Price: | 99.93
|
| Yield: | 2.715%
|
| Spread: | Treasuries plus 52.8 bps
|
| Call: | Non-callable
|
| Distribution: | Rule 144A
|
| Trade date: | Nov. 18
|
| Settlement date: | Nov. 25
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AA+
|
| Price talk: | Mid-swaps plus 25 bps
|
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