Commonwealth Bank of Australia sold $3 billion of bonds in a two-part, U.S. dollar-denominated offering.
Australia’s biggest lender by market value issued $1 billion of 2.5 percent, five-year notes and $2 billion of floating-rate securities due in September 2016 that yield 50 basis points more than the three-month London interbank offered rate, according to data compiled by Bloomberg.
The Sydney-based bank canceled a three-year portion of fixed-rate debt, according to a person with knowledge of the offering who asked not to be identified because terms weren’t set.
Citigroup Inc., CBA, JPMorgan Chase & Co. and Morgan Stanley managed the sale, Bloomberg data show.
Libor, the rate at which banks say they can borrow from each other, was set today at 25 basis points.
To contact the editor responsible for this story: Alan Goldstein at firstname.lastname@example.org