3:00 Thursday vs 3:00 Wednesday
2yr 99-25 vs 99-26; 4.230% vs 4.220%
5yr 99-28 vs 99-31; 4.394% vs 4.378%
10yr 99-07+ vs 99-11; 5.184% vs 5.177%
30yr 99-00 vs 99-04; 5.190% vs 5.182%
2/10 44.029 bps vs 43.870 bps
5/30 79.388 bps vs 80.199 bps
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Treasury
Commonwealth Bank of Australia Issues Subordinated Fixed Reset Notes Worth SG$325 Million
Commonwealth Bank of Australia (ASX:CBA) it issued SG$325 million worth of subordinated fixed reset notes due Aug. 27, 2036, on Thursday, according to a same-day Australian bourse filing.The notes potentially exchange into fully paid ordinary shares of the bank if a non-viability trigger event occurs. The number of ordinary shares issued on exchange is limited to 8,178 ordinary shares per subordinated security, with a nominal value of AU$276,449.The notes carry an initial interest rate of 3.150% per annum, and the reset date is Aug. 27, 2031.
ASX:CBA
Treasury
Lancang River Hydropower Completes 2.1 Billion Yuan Green Bond Issuance
Huaneng Lancang River Hydropower (SHA:600025) has completed the issuance of green bonds totaling 2.1 billion yuan to repay interest-bearing debt, according to a Shanghai bourse filing on Thursday.The offering consisted of two tranches, including 1.1 billion yuan in green super short-term commercial paper with an interest rate of 1.42% and a term of 225 days.Agricultural Bank of China (SHA:601288, HKG:1288) acted as the lead underwriter, with Bank of China (SHA:601988, HKG:3988) serving as joint lead underwriter.The second tranche consists of 1.0 billion yuan in green medium-term notes carrying a coupon of 1.88% with a 5+N year term. Bank of China acted as the lead underwriter alongside Industrial and Commercial Bank of China (HKG:1398, SHA:601398) as joint lead underwriter.
SHA:600025
Treasury
UOB Prices 1 Billion-Euro Dual-Tranche Covered Bonds
United Overseas Bank (SGX:U11) has priced a 1 billion-euro dual-tranche fixed-rate covered bond offering under its $15 billion global covered bond program, according to filings with the Singapore bourse on Thursday.The lender priced 500 million euros of 3.118% covered bonds due in 2028 and 500 million euros of 3.342% covered bonds due in 2031.The bonds will be guaranteed by Glacier Equity and are expected to be rated Aaa by Moody's and AAA by S&P.They are expected to be issued on Sept. 8, the filing said.
SGX:U11