E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 5/17/2022 in the Prospect News Investment Grade Daily.

New Issue: Commonwealth Bank of Australia sells $1.75 billion 3.214% three-year covered bonds

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
Amount:$1.75 billion
Issue:Covered bonds
Maturity:May 27, 2025
Bookrunners:Commonwealth Bank of Australia, RBC, Standard Chartered Bank and TD Securities
Coupon:3.214%
Spread:SOFR mid-swaps plus 55 bps, or Treasuries plus 45.86 bps
Trade date:May 16
Price guidance:SOFR mid-swaps plus 60 bps area

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.