(Adds pricing details)
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SYDNEY, Aug 30 (BestGrowthStock) – Credit Suisse AG, Sydney branch,
(CSGN.VX: ) has priced A$600 million ($537 million) in five-year
floating rate notes at 158 basis points over BBSW, a joint lead
said on Tuesday.
Strong demand allowed the borrower to slightly cut the
margin from around 160 basis points and increase it from A$500
million.
The borrower capped the offer at A$600 million.
The notes will be repo-eligible with the Reserve Bank of
Australia.
Total Australian dollar bond issuance this year, excluding
asset-backed securities, stands at A$63 billion. This is
slightly more than the volume seen at the same time last year,
Thomson Reuters data shows.
Deal details are as follows:
Issuer: Credit Suisse AG Sydney branch
Facility: Domestic floating rate notes
Amount issued: A$600 mln
Maturity: Sept 8, 2015
Set date: Sept 8
Coupon: +158bp/3mBBSW
Yield: +158bp/3mBBSW
Spread: +158bp/3mBBSW
Issue price: 100
Lead(s): CBA, Credit Suisse, NAB
Issue ratings: A+ (S&P), Aa1 (Moody’s), AA- (Fitch)
(Reporting by Cecile Lefort; Editing by Ed Davies)
UPDATE 1-Credit Suisse prices A$600 mln 5-year FRN
