Commonwealth Bank of Australia prices AUD750 million of February 2003 medium term securities
27 July 2000
Commonwealth Bank of Australia today priced its new AUD750 million issue of Medium Term Securities. The issue is the first under its Commonwealth Bank Medium Term Securities ("Commets") Programme.
The 10 February 2003 fixed rate issue has a coupon of 6.50% and has been priced at a spread of 64 basis points over the October 2002 Commonwealth Bond to yield 6.71% pa.
John te Wechel, Head of Group Funding, Commonwealth Bank, said "We are absolutely delighted with investor take up for the deal so far. The amount of demand generated in the short time since the deal was announced has been a clear vindication of the decision to go with a large, liquid tranche. We are confident of healthy offshore demand given the deal's excellent reception locally."