Commonwealth Bank has sold its Indonesian subsidiary PT Bank Commonwealth to PT Bank OCBC NISP Tbk. CBA reported that it has entered into a binding agreement to sell its 99 per cent shareholding in PTBC for a cash consideration of A$220 million. The buyer is a subsidiary of Singaporean bank Oversea-Chinese Banking Corporation. The sale ends an involvement with PTBC that started in 1997. CBA said the transaction would have no material impact on its capital position. Judo Bank completed its inaugural issue of capital notes last week, raising A$75 million with an issue that has a first call date of February 2029. Judo’s entry into the additional tier 1 securities market is notable for the margin of 6.5 per cent it will pay over the bank bill swap rate - the highest ever for hybrid securities issued in Australia.