Commonwealth Bank of Australia recently priced its second global mortgage-backed transaction, achieving better pricing compared to the first deal which was completed earlier this year.

The latest, Series 2000-2G Medallion Trust, consisted of US$1.06 billion of triple-A rated notes with an expected average life of 3.1 years. The deal was oversubscribed 1.6 times and priced at 20 basis points over three-month Libor, three basis points cheaper than the inaugural transaction. Merrill Lynch was lead manager with Deutsche Bank and J.P. Morgan as co-leads.

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