Commonwealth Bank of Australia raises $794 mln worth of debt

Oct 25 - Commonwealth Bank of Australia on Wednesday announced the issuance of A$1.25 billion worth of subordinated notes.

The issue of subordinated securities will not have a material impact on its financial position, the country's largest lender said. The bank is issuing A$550 million worth of subordinated fixed to floating rate securities and A$700 million worth of subordinated floating rate securities, both due in a decade.

"The subordinated securities potentially exchange into fully paid ordinary shares of CBA if a non-viability trigger event occurs," the bank said.Reporting by Sameer Manekar in Bengaluru; Editing by Shailesh Kuber and Devika Syamnath

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Commonwealth Bank of Australia raises $794 million worth of debtExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »