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Prospect News home > News index > List of issuers Tenders > Headlines for 2021 > News item
Published on 3/8/2021 in the Prospect News Investment Grade Daily, Prospect News Liability Management Daily and Prospect News Preferred Stock Daily.

Commonwealth Bank of Australia prices tender offers for two note series

By Taylor Fox

New York, March 8 – Commonwealth Bank of Australia priced its two concurrent but separate cash tender offers for any and all outstanding €1.25 billion 2% subordinated notes due April 22, 2027 (ISIN: XS1219642441) and $1.25 billion 4.5% subordinated notes due Dec. 9, 2025 (ISINs: US20710HR32, US2027A1HR15), according to a news release.

The euro-denominated notes will be purchased at a price of €1,024.06 per €1,000 of notes, priced using the 2022 interpolated mid-swap rate and a fixed spread of 35 basis points.

The dollar-denominated notes will be purchased at a price of $1,149.24 per $1,000 of notes, priced using the 0.5% U.S. Treasuries rate due Feb. 25, 2026 plus 40 bps.

The purchase prices for the euro-denominated notes were determined at 9 a.m. ET on March 8 and the dollar-denominated notes at 2 p.m. ET on March 8.

The offers will expire at 5 p.m. ET on March 8, also the withdrawal deadline.

The guaranteed delivery date is March 10.

The settlement date is expected to be March 11.

BofA Securities, Inc. (888 292-0070, 980 387-3907), Merrill Lynch International (+44 20 7996 5420; dg.lm-emea@bofa.com), Commonwealth Bank of Australia (+61 2 9118 1221), Deutsche Bank AG, London Branch (+44 20 7545 8011), Deutsche Bank Securities Inc. (866 627-0391, 212 250-2955), UBS AG London Branch (+44 20 7568 1121, ol-liabilitymanagement-eu@ubs.com) and UBS Securities LLC (+44 20 7568 1121, ol-liabilitymanagement-eu@ubs.comare serving as dealer managers.

Global Bondholder Servicers is the information and tender agent (https://gbsc-usa.com/registration/commonwealth).

The banking and financial services company is based in Sydney, Australia.


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