Lloyds TSB Australia prices inaugural Aussie benchmark
Lloyds TSB Australia priced its first Australian dollar benchmark on Wednesday, a A$750m dual tranche due November 2013 deal comprising a A$300m senior unsecured fixed tranche and a A$450m floating rate bond.
The transaction received orders from 52 separate investors predominantly in Australia and Asia, the bank said. It reached a book of A$779m, with the floater pricing at mid swaps plus 190bp, equivalent to sterling Libor plus 161bp, and the fixed tranche at a coupon of 7.25%.
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