Commonwealth Bank of Australia
(ASX:CBA) has raised $1.5 billion through a hybrid offer, PERLS VI. The issue received strong demand with the hybrids paying a margin set at 3.8 per cent per annum over the 90 day Bank Bills rate.
CBA’s chief financial officer David Craig says the bank is very pleased with the strong support from investors for the offer, particularly as PERLS VI will be the first Basel III compliant tier 1 hybrid issued by an Australian bank.
CBA generated a record net profit of $7.1 billion in the 2012 financial year.
