Commonwealth Bank of Australia: 18 events in 90 days, six of them capital raisings

Across the Australian markets we track, Commonwealth Bank of Australia logged 18 qualifying events in six classes in the last 90 days, to 5 October. Six of them were capital raisings, covering four note issues: A$2.75 billion of senior notes on 15 July (Simply Wall St), GBP650 million of subordinated notes on 21 August (GN, ASX:CBA), $1.25 billion due 2037 on 16 September (GN, ASX:CBA) and 2 billion yuan due 2036 on 30 September (GN, ASX:CBA).

Five events were substantial holding notices. The bank crossed 5% in Australian Finance Group on 16 July and ceased to be a substantial holder the next day (GN, ASX:CBA). It left Karoon Energy on 1 September and came back with 5.02% on 2 September (GN, ASX:KAR). On 9 September it became a substantial holder in CAR Group Limited (GN, ASX:CBA). Positions move in days.

On 12 August the bank reported a record A$10.98 billion full-year cash profit alongside a 15% slump in mortgage applications (Business Times SG). The Finance Sector Union accused it on 10 July of using redundancies as cover for offshoring (GN, ASX:CBA), and on 23 September said the bank is cutting 172 jobs by year-end (GN, ASX:CBA). A new director's interest notice followed on 31 August and an executive team update on 14 September (GN, ASX:CBA).

Corporate and M&A carries the most work: four note issues in foreign currencies and Australian dollars, and five substantial holding notices under Australian corporations law. Insolvency and employment work sits in the 172 job cuts announced on 23 September. The union's offshoring claim of 10 July adds consultation advice.

Re-engagement follows the 14 September executive team change and the August board appointment, as new decision-makers reopen panel relationships. Commercial and property work runs through the bank's A$150 billion data centre estimate to 2030 (GN, AU data centres). It matters to partners and business development teams at Australian law firms.