Post-CommBank covered bond commentary focuses on pricing and distribution
- Wednesday, 18 January 2012
The issuer and lead managers of the first domestic covered bond from an Australian bank say the deal's pricing was appropriate to both a new asset class transaction and offshore comparables. The issue margin was notably wider than secondary spreads on Australian major bank senior unsecured paper, but deal participants point to the huge volume of the covered bond transaction and its wide investor base as proof of its successful execution.
