Commonwealth Bank of Australia announces successful completion of consent solicitation for US$700,000,000 Trust Preferred Securities issued by CBA Capital Trust II

SYDNEY, Feb. 9, 2016 /PRNewswire/ -- Commonwealth Bank of Australia (the "Bank") today announces that CBA Capital Holdings Inc., as Sponsor (the "Sponsor") of CBA Capital Trust II (the "Trust"), has received on behalf of the Trust the requisite consents from holders of the Trust Preferred Securities (CUSIP/ISIN: 12479BAA0/US12479BAA08 and U1492UAA1/USU1492UAA17) (the "Securities"), which represent preferred undivided beneficial ownership interests in the assets of the Trust, to approve certain amendments (the "Proposed Amendments") to the Amended and Restated Declaration of Trust (the "Declaration") of CBA Capital Trust II governing the Securities. The consent solicitation expired at 5:00 p.m., New York time, on February 8, 2016 (the "Expiration Date").

The Bank has been advised by D.F. King Limited, the information and tabulation agent for the consent solicitation, that on the Expiration Date consents were validly delivered and not validly revoked in respect of more than a majority in aggregate liquidation amount of the outstanding Securities. As a result, the Sponsor, The Bank of New York Mellon, as Property Trustee, BNY Mellon Trust of Delaware, as Delaware Trustee, The Bank of New York Mellon, as Trust Agent, and the Regular Trustee have entered into the Second Amended and Restated Declaration of Trust of CBA Capital Trust II to implement the Proposed Amendments. On or before February 11, 2016, the Bank will make a cash payment equal to US$0.50 per US$1,000 liquidation amount of Securities to each holder of the Securities that validly delivered its consent prior to the Expiration Date.  

The information and tabulation agent for the consent solicitation was D.F. King Limited and the solicitation agent for the consent solicitation was Goldman, Sachs & Co.

This press release is for information purposes only and is not an offer to sell or a solicitation or an offer to buy any security, nor is it a solicitation of consents with respect to any Securities. The consent solicitation was made solely by the Consent Solicitation Statement, dated January 27, 2016 (the "Consent Solicitation Statement"), which should be consulted for additional information regarding the consent procedures and the conditions for the consent solicitation. To receive copies of the Consent Solicitation Statement or for questions relating to the consent solicitation, please contact the solicitation agent or the information and tabulation agent using the information below. If any holder is in any doubt as to the impact the Proposed Amendments will have on the Securities, it is recommended for such holder to seek its own financial and legal advice, including as to any tax consequences, immediately from its stockbroker, bank, manager, solicitor, accountant or other independent financial or legal adviser.

For more information please contact:

Goldman Sachs:

In Europe
+44 (0) 20 7774 9862
Email: [email protected]

In the United States
+1 (212) 902-5183

D.F. King:

In London
125 Wood Street
London EC2V 7AN
United Kingdom
Telephone: +44 20 7920 9700

In New York
48 Wall Street, 22nd Floor
New York, New York 10005
United States
Banks and Brokers call: +1 212 269 5550
All Others call toll-free: + 1 866 620 8437

In Hong Kong
Suite 1601, 16/F, Central Tower
28 Queen's Road Central
Hong Kong
Telephone: +852 3953 7230

Website: http://sites.dfkingltd.com/cba
Email: [email protected]

SOURCE Commonwealth Bank of Australia