Australia's CBA adds A$200 mln to 2011 bond-source

Sun Aug 10, 2008 10:36pm EDT
 
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 (For the latest Australia and New Zealand bond news, double
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 SYDNEY, Aug 11 (Reuters) - Commonwealth Bank of Australia,
the nation's second-biggest lender by assets, has added A$200
million $177.8 million) to its issue of transferable
certificates of deposit due June 2011, according to a market
source.
 The bonds were likely placed with investors who had opted
to take a refund on an issue offered on July 28 by National
Australia Bank (NAB), the source said.
 The NAB bond issue, sold only three days before the bank
revealed a surprise A$830 million loss, was reduced by two
thirds to A$260 million after it gave investors the choice of
opting out of their commitment. The issue margin was 90 basis
points over swap and BBSW.
 Pricing details of the CBA offer were not disclosed.
 CBA declined to comment.
 The deal details are as follows:
  Issuer:         CBA
  Facility:       Floating rate transferable
                  deposits increase
  Amount issued:  A$200 million
  Total amount:   A$1.2 billion
  Maturity:       June 24, 2011
  Set date:       Aug. 1
  Coupon:         +80 bps/BBSW
  Yield:          undisclosed
  Spread:         undisclosed
  Issue price:    undisclosed
  Lead:           CBA
  Issuer rating:  AA (S&P), Aa1 (Moody's), AA (Fitch)
  ($1=1.125 Australian Dollar)
  (Reporting by Cecile Lefort) 

 

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