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Australian CDO market buzzing

Commonwealth Bank of Australia (CBA) has tapped its home market with A$166.5 million (US$113 million) worth of three-year portfolio credit-linked notes (CLNs). The five series of notes were issued through a repackaging vehicle called Shield,and were referenced to a pool of 100 equally rated investment-grade credits.

The deal comprises A$10 million of Series 11 notes rated AAA by ratings agencyStandard & Poor’s; A$11.5 million of Series 10 notes rated AA+; A$120mill