By Devika Patel and Cristal Cody
Knoxville, Tenn.., May 17 – Commonwealth Bank of Australia priced $1.75 billion of 3.214% three-year covered bonds on Monday at a spread of 55 basis points over SOFR mid-swaps, or Treasuries plus 45.86 bps, according to a market source.
Initial price talk was in the SOFR mid-swaps plus 60 bps area.
Commonwealth Bank of Australia, RBC, Standard Chartered Bank and TD Securities were the bookrunners.
The bank and financial services company is based in Sydney.
| Issuer: | Commonwealth Bank of Australia
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| Amount: | $1.75 billion
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| Issue: | Covered bonds
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| Maturity: | May 27, 2025
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| Bookrunners: | Commonwealth Bank of Australia, RBC, Standard Chartered Bank and TD Securities
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| Coupon: | 3.214%
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| Spread: | SOFR mid-swaps plus 55 bps, or Treasuries plus 45.86 bps
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| Trade date: | May 16
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| Price guidance: | SOFR mid-swaps plus 60 bps area
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