CommBank issues US$3b bonds in US

SYDNEY: Commonwealth Bank of Australia (CommBank) successfully issued US$3 billion (RM12.6 billion) in bonds in the United States, as investors look past unprecedented moneylaundering accusations levelled against Australia’s largest lender.

The bank raised the funds through the three-part bond more cheaply than expected, after receiving orders of US$5.9 billion, Thomson Reuters publication IFR Magazine reported yesterday.

“I think a lot of investors have been somewhat desensitised to announcements of banks being investigated by regulators,” said Nick Bishop, head of Australian fixed income at Aberdeen Standard Investments.

“At the end of the day the Aussie banks still produce a lot of profits and it’s far from clear what might happen,” said Bishop, referring to the laundering charges. Reuters