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