CBA raises A$570 mln in 2 govt-backed notes-terms

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SYDNEY, July 13 (Reuters) - Commonwealth Bank of Australia
(CBA), the nation's third-largest lender, has raised A$570
million ($443 million) equivalent in two issues backed by an
Australian government guarantee, according to terms sheets seen
by Reuters.

Australian banks have been keen users of a government
guarantee put in place late last year to help them weather the
global financial crisis.

More than A$107 billion of funds have been raised by
Australian banks, onshore and offshore, with the sovereign
guarantee since its introduction, according to Deutsche Bank
data.

The Australian government guarantee is rated triple A by
S&P and Moody's.

Deal details are as follows:

Issuer: CBA

Facility: Fixed and floating rate government-backed

notes

Guarantor: Australia

Issuer ratings: AA (S&P), Aa1 (Moody's), AA (Fitch)

Tranche: Reg S FRN Australian fixed

Amount: US$250 mln A$250 mln

Maturity: July 16 2012 Aug. 18 2011

Set: July 16 July 13

Coupon: +20bp/US Libor 3.70%

Yield: +20bp/US Libor 3.70%

Spread: +20bp/US Libor undisclosed

Issue price: 100 100

Lead(s): Goldman Sachs JPMorgan

Issue ratings: AAA/Aaa/- AAA/Aaa/AAA
($1=1.286 Australian Dollar)
(Reporting by Cecile Lefort)