CommBank opens AU domestic market with A$2.5 billion five-year benchmark
- Tuesday, 15 January 2013
Commonwealth Bank of Australia (CommBank) (AA-/Aa2/AA-) opened the Australian domestic market in 2013 with a new offering of five-year fixed and floating rate notes, in a self-led deal totalling A$2.5 billion (US$2.64 billion).
Issuer name: Commonwealth Bank of Australia
Issuer rating: AA-/Aa2/AA-
Issue rating: as issuer
Pricing date: January 15 2013
Settlement date: January 25 2013
Maturity date: January 25 2018
Lead manager: Commonwealth Bank of Australia
Fixed rate tranche
Volume: A$750 million
Total outstanding in this line: A$750 million
Coupon type: fixed
Coupon rate: 4.25% (semi-annual)
Issue/re-offer price: 99.533%
Re-offer yield: 4.355%
Margin to swap: 95bps/semi-quarterly coupon matched asset swap
Margin to ACGB: 139.25bps/5.5% Jan 2018
Floating rate tranche
Volume: A$1.75 billion
Total outstanding in this line: A$1.75 billion
Coupon type: floating
Coupon rate: 95bps/3m BBSW
Issue/re-offer price: 100%
Re-offer yield: N/A
Margin to swap: 95bps/3m BBSW
Next domestic maturity date: March 11 2013
Next maturity volume: A$2.4 billion
Previous domestic issue date: June 22 2012
Previous issue maturity: January 19 2015
Previous issue volume: A$1.5 billion
Previous issue margin: 115bp/BBSW
