Commonwealth Bank of Australia A$1.45 billion PERLS IX 3.90% notes issue

20/2/2017
Investment grade bond/note issue

A$ 1.45 billion

Completed

20/2/2017


Overview:

  • The Commonwealth Bank of Australia (CBA) has undertaken a A$1.45 billion issue of PERLS IX subordinated, unsecured notes.
  • The 3.90% notes have a call date of March 2022 and a mandatory exchange date of March 2024.
  • CBA and Morgan Stanley Australia Securities acted as arrangers.
  • CBA Markets, Morgan Stanley, Evans and Partners, JPMorgan Australia, Morgans Financial, National Australia Bank and Westpac Institutional Bank acted as joint lead managers.
  • The proceeds from the issue will raise Tier 1 Capital to satisfy CBA’s regulatory capital requirements.
  • The net proceeds of the offer will be used to fund CBA’s business.

Adam Majeed - Regional editor

Jurisdictions:

Australia
New Zealand

Deal type:

Investment grade bond/note issue

Practice area:

Capital markets : Debt

Industry sector:

Banking


Firms:

Party: Commonwealth Bank of Australia (Arranger)

Party: Morgan Stanley (Arranger)

Party: CBA Markets (Joint lead manager)

Party: Morgan Stanley (Joint lead manager)

Party: National Australia Bank - NAB (Joint lead manager)

Party: Westpac Institutional Bank (Joint lead manager)

Party: Evans and Partners (Joint lead manager)

Party: JPMorgan Australia (Joint lead manager)

Party: Morgans Financial (Joint lead manager)

Lawyer: Sarah Dulhunty


Party: Commonwealth Bank of Australia (Issuer)


Party: Commonwealth Bank of Australia (Issuer)