Dalrymple Bay Coal Terminal, a coal$-$handling facility and export terminal in Queensland, Australia, has issued triple$-$A rated bonds for $$680$ million in Australian dollars. The bonds will be used to refinance existing bank debt caused by the acquisition of eases from the Queensland government in $2002.$ The Commonwealth Bank of Australia acted as investment bankers to the transaction. This means the Commonwealth Bank of Australia:

engaged in factoring the sale

bought the bonds from Dalrymple and sold them to the public

operates in the secondary securities market

was responsible for co$-$insurance of the bond premium

would be responsible for paying the dividend if Dalrymple were unable to