CBA has announced today the updated offer of PERLS XI. CBA has allocated A$1.25 billion of PERLS XI on a firm basis under the Broker Firm Offer, and the Margin has been set at 3.70% per annum.

PERLS XI are subordinated and unsecured notes issued by the CBA. The offer raisies CBA's Tier 1 Capital  to meet regulatory requirements. The notes are perpetual, but have a mandatory exchange date of 26th Apil 2026. Distributions are expected to be quarterly and fully franked. Further information about hybrids is available here https://www.commbank.com.au/about-us/shareholders/securities/bank-hybrid-securities-basics.html.

For information about this offer, please see https://www.commbank.com.au/about-us/investors/other-securities.html