CBA closes PERLS VIII issue at $1.45 billion

01 April 2016

 

CBA has raised a total of $1.45 billion with its latest hybrid offering, PERLS VIII. The offer has now closed after initially seeking to raise around $1.25 billion. The PERLS VIII hybrids replace the maturing PERLS III hybrid and will pay investors the 90 day bank bill rate plus a margin of 5.20%. This represents an initial return of 7.50% pa including franking credits. This issue was not without controversy....

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