SYDNEY, Aug 18 (Reuters) - Commonwealth Bank of Australia (CBA), the country’s No.1 lender by market value, said on Monday that it will raise A$2 billion ($1.86 billion) through subordinated, unsecured notes to help fund its business.
The funds raised will also help CBA boost its Tier-I capital ratio, it said. At the end of June, that ratio was at 9.3 percent. The offer opens on Aug. 26 and closes on Sept. 19.
Goldman Sachs, JP Morgan Australia Ltd, Morgan Financial Ltd, UBS AG and Westpac Institutional Bank were joint lead managers to the offer. CBA and Morgan Stanley Australia Securities acted as arrangers. (1 US dollar = 1.0733 Australian dollar) (Reporting by Swati Pandey; Editing by Ryan Woo)