Some life returned to the domestic corporate bond market last week. The stand-out issuer was Commonwealth Bank, rated AA-, which added A$1.5 billion to its January 2015 floating rate notes to take outstandings to A$2.5 billion.
The line was opened last October, at a spread of 115 basis points over bank bills, and this latest increase was priced at 110 bps over bank bills.
National Wealth Management Holdings, rated A+, followed the example of ANZ Wealth Australia the week before, and added $120 million of three-year FRNs to its August 2015 line. The increase was priced at 200...
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