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SYDNEY, May 2 (Reuters) - St. George Bank SGB.AX,
Australia's fifth-largest lender, has priced A$700 million
($654 million) of 10-year subordinated debt at 275 basis points
over swap and BBSW, a market source said on Friday.
The offer was raised from an initial minimum size of A$300
million.
It comprises A$590 million of fixed rate notes and A$110
million of floating rate notes.
The notes, non-callable for five years, are expected to be
rated A by S&P and Fitch and Aa3 by Moody's.
St. George was sole manager.
($1=A$1.07)
(Reporting by Cecile Lefort)
