PERLS VIII: CBA tries to make amends

After its previous hybrid fell in price and depressed the entire hybrid market, CBA is trying to make amends with PERLS VIII

Commonwealth Bank began offering its CommBank PERLS VII Capital Notes, its previous hybrid issue, in September 2014. Despite paying a low 2.8% margin above the bank bill rate and raising a cool $3bn, demand was so high – helped by the ‘search for yield’ in the low interest rate environment – that the bank was forced to scale back applications.


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