CSL’s penchant for three tranche bond deals has continued with its latest offering in the US. In a deal not widely publicised, CSL sold USD$550 million (AUD$720 million) of bonds into the US private placement market in three tranches comprising USD$150 million 10 year bonds, USD$200 million 12 year bonds and $USD200 million 15 year bonds. Just under one year ago, CSL issued bonds under a three tranches deal; two...