By Rebecca Melvin and Cristal Cody
Concord, N.H., Oct. 19 – ASB Bank Ltd. priced $1.2 billion of notes in two parts on Monday, a market source said.
The bank sold $700 million of 1.625% five-year notes to yield Treasuries plus 55 basis points. Pricing came tight to talk for yield in the area of Treasuries plus 80 bps.
The issuer also priced $500 million of 2.375% 10-year notes to yield Treasuries plus 90 bps. That pricing was tight to talk in the area of 105 bps over Treasuries.
Citigroup, Commonwealth Bank of Australia, JPMorgan and TD Securities were arranging the sale.
ASB Bank is a subsidiary of the Commonwealth Bank of Australia.
| Issuer: | ASB Bank Ltd.
|
| Amount: | $1.2 billion
|
| Description: | Notes
|
| Bookrunners: | Citigroup, Commonwealth Bank of Australia, JPMorgan and TD Securities
|
| Trade date: | Oct. 18
|
|
|
| Five-year tranche
|
| Amount: | $700 million
|
| Description: | Notes
|
| Maturity: | Oct. 22, 2026
|
| Coupon: | 1.625%
|
| Spread: | Treasuries plus 55 bps
|
| Talk: | Treasuries plus 80 bps area
|
|
|
| 10-year notes
|
| Amount: | $500 million
|
| Description: | Notes
|
| Maturity: | Oct. 22, 2031
|
| Coupon: | 2.375%
|
| Spread: | Treasuries plus 90 bps
|
| Talk: | Treasuries plus 105 bps area
|
|
|
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