By Andrea Heisinger
New York, Oct. 8 - The Commonwealth Bank of Australia priced $4 billion of senior notes (Aa1/AA/) in three tranches on Thursday, a source away from the sale said.
A $500 million tranche of 2.75% three-year notes priced at 99.991 to yield 2.753% with a spread of Treasuries plus 140 basis points.
The $2 billion of 3.75% five-year notes priced at 99.693 to yield 3.818%, or Treasuries plus 160 bps.
A $1.5 billion tranche of 5% 10-year notes priced at 99.448 to yield 5.071%, or Treasuries plus 182 bps.
All of the tranches are non-callable.
They all "priced where they were launched and talked," the source said.
The deal was done via Rule 144A.
Bookrunners were Goldman Sachs & Co., J.P. Morgan Securities, Morgan Stanley and Commonwealth Bank of Australia.
The financial services company is based in Sydney, Australia.
| Issuer: | Commonwealth Bank of Australia
|
| Issue: | Senior notes
|
| Total amount: | $4 billion
|
| Bookrunners: | Goldman Sachs & Co., J.P. Morgan Securities, Morgan Stanley, Commonwealth Bank of Australia
|
| Distribution: | Rule 144A
|
| Trade date: | Oct. 8
|
| Settlement date: | Oct. 15
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA
|
|
|
| Three-year notes
|
| Amount: | $500 million
|
| Maturity: | Oct. 15, 2012
|
| Coupon: | 2.75%
|
| Price: | 99.991
|
| Yield: | 2.753%
|
| Spread: | Treasuries plus 140 bps
|
| Call: | Non-callable
|
|
|
| Five-year notes
|
| Amount: | $2 billion
|
| Maturity: | Oct. 15, 2014
|
| Coupon: | 3.75%
|
| Price: | 99.693
|
| Yield: | 3.818%
|
| Spread: | Treasuries plus 160 bps
|
| Call: | Non-callable
|
|
|
| 10-year notes
|
| Amount: | $1.5 billion
|
| Maturity: | Oct. 15, 2019
|
| Coupon: | 5%
|
| Price: | 99.448
|
| Yield: | 5.071%
|
| Spread: | Treasuries plus 182 bps
|
| Call: | Non-callable
|
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