By Cristal Cody
Tupelo, Miss., March 13 – Commonwealth Bank of Australia (Aa3/AA-/AA-) priced $2.25 billion of notes in three tranches in line with price guidance on Monday, according to a market source.
The bank sold $750 million of five-year floating-rate notes at Libor plus 70 basis points.
Commonwealth Bank of Australia priced $500 million of 3.45% five-year notes at a spread of 85 bps over Treasuries.
The $1 billion tranche of 3.9% 10-year notes was sold with a Treasuries plus 105 bps spread.
BofA Merrill Lynch, Commonwealth Bank of Australia, Goldman Sachs & Co. and J.P. Morgan Securities LLC were the bookrunners.
The bank and financial services company is based in Sydney.
| Issuer: | Commonwealth Bank of Australia
|
| Amount: | $2.25 billion
|
| Description: | Notes
|
| Bookrunners: | BofA Merrill Lynch, Commonwealth Bank of Australia, Goldman Sachs & Co. and J.P. Morgan Securities LLC
|
| Trade date: | March 12
|
| Ratings: | Moody’s: Aa3
|
| S&P: AA-
|
| Fitch: AA-
|
|
|
| Five-year floaters
|
| Amount: | $750 million
|
| Maturity: | March 16, 2023
|
| Coupon: | Libor plus 70 bps
|
| Price guidance: | Libor plus 70 bps
|
|
|
| Five-year notes
|
| Amount: | $500 million
|
| Maturity: | March 16, 2023
|
| Coupon: | 3.45%
|
| Spread: | Treasuries plus 85 bps
|
| Price guidance: | Treasuries plus 85 bps
|
|
|
| 10-year notes
|
| Amount: | $1 billion
|
| Maturity: | March 16, 2028
|
| Coupon: | 3.9%
|
| Spread: | Treasuries plus 105 bps
|
| Price guidance: | Treasuries plus 105 bps
|
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