Australia's CBA launches benchmark TCD issue

SYDNEY, June 18 (Reuters) - Commonwealth Bank of Australia on Wednesday launched a new benchmark transferable certificate of deposit (TCD) issue due June 2011.

CBA, which is lead manager on the issue, said the issue would include both fixed and floating tranches with a price guidance of 80 basis points above the bank bill swap rate.

Pricing was expected later on Wednesday. (Reporting by Wayne Cole; Editing by Jonathan Standing)