Single-A banks eyed in Aus after RBS surges to A$1.5bn
RBS (Australia) priced a A$1.5bn three year fixed and floating rate dual tranche bond inside price guidance on Tuesday after building a book that grew to over four times the minimum deal size.
Bookrunners ANZ Bank, Commonwealth Bank of Australia, National Australia Bank, Westpac and Royal Bank of Scotland priced a A$750m fixed rate tranche with a 7.25% coupon at 245bp over mid-swaps and a A$750m floating rate tranche at 245bp over BBSW, both 5bp inside guidance after indicating a minimum
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