On 15 Feb, YieldReport reported CBA’s likely new issue of a hybrid security after the bank flagged a capital raising in last week’s half yearly report. On 16 Feb, the bank confirmed it is seeking to raise $1.25 billion, with provision for over-subscriptions. The PERLS 8 Capital Notes, as they will be known, are subordinated unsecured notes and are Basel 3 compliant, which means they have the obligatory Capital Trigger Event...