CBA gets soft bullet consent, others to follow
Commonwealth Bank of Australia (CBA) has become the latest bank to get the consent of investors to switch a number of deals from a hard to soft bullet maturity. The probability of a soft bullet extension being triggered should be materially lower from January 2016 when bail-in legislation takes effect, and since soft bullet bonds require a less onerous collateral commitment from issuers, many borrowers should follow suit.
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