Teachers Mutual’s subordinated domestic deal progresses to launch
- Wednesday, 30 August 2017
The A$20 million (US$16 million) 10-year non-call five-year subordinated deal for Teachers Mutual Bank (Teachers Mutual) (BBB/Baa1) progressed to launch on 30 August. The transaction, which is expected to be rated Baa3, is being marketed at 280-300 basis points over three-month bank bill swap rate and is expected to price on 31 August, according to lead manager Commonwealth Bank of Australia.
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