Commonwealth Bank of Australia Sells A$1.5 Billion of Bonds Due in 2013

Commonwealth Bank of Australia, the nation’s biggest bank, sold A$1.5 billion ($1.4 billion) of bonds in its biggest domestic debt sale in more than six months.

The Sydney-based lender added A$500 million of 6.25 percent notes and A$1 billion of floating-rate securities to its existing lines of bonds due in September 2013, according to an e-mailed statement today.

The deal is Commonwealth’s largest in its home market since it sold bonds on March 3, according to data compiled by Bloomberg. It’s the biggest by any Australia-based lender since Westpac Banking Corp. issued debt in April, the data show.

Commonwealth Bank priced the floating-rate notes to yield 85 basis points more than the bank bill swap rate, according to today’s statement. That’s 5 basis points more than the rate it paid when it sold three-year securities in March, according to data compiled by Bloomberg.

To contact the reporter on this story: Sarah McDonald in Sydney at smcdonald23@bloomberg.net.

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