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Commonwealth Bank of Australia Issues Nearly 26 Billion Yen Subordinated Fixed Reset Notes

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Commonwealth Bank of Australia (ASX:CBA) has secured 25.6 billion yen through subordinated fixed reset notes due June 18, 2036, under its Euro Medium Term Note Program, according to a Thursday Australian bourse filing.

The notes can be converted into ordinary CBA shares if a non-viability trigger event occurs, per the filing.

The notes are not expected to materially affect the bank's financial position, but any conversion would increase shareholders' equity, subject to a volume-weighted average price-based maximum exchange cap, the filing added.

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