Commonwealth Bank of Australia Sells $3 Billion in 2-Part IssueCallie Bost
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.