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Commonwealth Bank of Australia Issues Subordinated Fixed Reset Notes Worth SG$325 Million

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Commonwealth Bank of Australia (ASX:CBA) it issued SG$325 million worth of subordinated fixed reset notes due Aug. 27, 2036, on Thursday, according to a same-day Australian bourse filing.

The notes potentially exchange into fully paid ordinary shares of the bank if a non-viability trigger event occurs. The number of ordinary shares issued on exchange is limited to 8,178 ordinary shares per subordinated security, with a nominal value of AU$276,449.

The notes carry an initial interest rate of 3.150% per annum, and the reset date is Aug. 27, 2031.

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