AUSTRALIA SELLS BONDS IN TWO TRANCHES
The Commonwealth of Australia is
offering in the Yankee bond market 400 mln dlrs of bonds in two
tranches, said lead manager Morgan Stanley and Co Inc.
    A 250 mln dlr issue of bonds due 1997 was given a 7-5/8 pct
coupon and was priced at 99.25 to yield 7.73 pct, or 60.5 basis
points more than comparable Treasury securities.
    A companion 150 mln dlr offering of 30-year bonds was given
an 8-3/8 pct coupon and was priced at 99.875 to yield 8.386
pct, or 82.5 basis points over Treasuries.
    Both tranches are non-callable for life. Moody's rates the
bonds Aa-1 and S and P rates them AA-plus.
 Reuter
