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HSF Advises Joint Lead Managers on Commonwealth Bank of Australia’s A$1.18 billion PERLS XIII Issue
Herbert Smith Freehills has advised the Joint Lead Managers of the Commonwealth Bank of Australia’s (CBA) offer of CommBank PERLS XIII Capital Notes.
CBA is one of Australia’s leading providers of integrated financial services including retail, business and institutional banking, funds management, superannuation, insurance and broking services.
CommBank PERLS XIII Capital Notes are subordinated, unsecured notes. The proceeds from the issue will raise Tier 1 Capital to satisfy CBA’s regulatory capital requirements and maintain the diversity of CBA’s sources and types of funding. The net proceeds of the Offer will be used to fund CBA’s business.