CBA new benchmark FRN

13 April 2016

 

In recent weeks YieldReport has noted the recent popularity of floating rate notes (FRNs) and bonds among issuers and investors. Commonwealth Bank has kept the trend intact by issuing $2 billion of new 3 year benchmark FRNs at 3m BBSW + 98bps. This margin is exactly the same as the $2billion worth of NAB 3 year FRNs issued in March. The two banks share the same credit rating and are...

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