CBA issues $2 billion in PERLS
October 9, 2009
Commonwealth Bank of Australia (CBA) said that it would issue more than double the number hybrid securities it has recently announced following strong interest from retail and institutional clients. The bank confirmed it would now issue $2 billion in Perpetual Exchangeable Resaleable Listed Securities (“PERLS V”) at $200 each.
The issue would be approximately split between 25% for retail clients and 75% to be distributed to brokers and institutions.
The $2 billion issue increases the CBA’s Tier 1 capital ratio by around 40 basis points.
At 1130am AEST, Commonwealth Bank shares were trading up 14c at $53.11.
Leave a Reply