Commonwealth Bank of Australia prepares three-part offering of notes

By Aleesia Forni

Virginia Beach, Va., Sept. 16 - Commonwealth Bank of Australia is planning to price a three-part offering of notes (Aa2/AA-/) on Wednesday via Rule 144A and Regulation S, according to a market source.

The deal is expected to include three-year fixed-rate notes and three-year floating-rate notes.

There will also be a five-year tranche of notes.

The bookrunners are Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC.

The Sydney, Australia-based banking and financial services company was last in the U.S. bond market with $2 billion of 0.75% three-year covered bonds priced with a spread of Treasuries plus 32 basis points on Jan. 9, 2013.

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