Commercial Bank to issue kangaroo bonds

Commercial Bank expects to issue around 200-250m Australian dollar-denominated bonds in the next few months, the Group CEO Joseph Abraham said.

The bank will issue the “kangaroo” bonds at the end of the first quarter or in the second quarter, said Joseph

The bank said last year, that it could raise up to $1bn in debt this year by tapping a range of various debt instruments to diversify its funding sources.

The Group CEO said Commercial Bank’s funding profile is quite diverse. “For us we have a number of diversified providers for funding. So we look at diversifying the funding by geography, by tenor and by time. Commercial Bank products are well regarded in the international market”, he said.

Source from: The Peninsula