Hunger for Aussie bank paper shows few signs of slowing
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Sydney
THE appetite for Australian banks to fund in the local bond market shows little sign of abating, with Commonwealth Bank of Australia selling A$2.65 billion (S$2.8 billion) of notes less than two weeks into the new year.
The deal is the earliest benchmark-sized local transaction from one of the country's four largest banks since 2009 and follows a record year of such fundraising, according to data compiled by Bloomberg. CBA's new five-year notes were priced to yield 111 basis points more than swaps.
