hybrid debt/equity swap , page-40

For CBA to pull the plug on CNP as one lender ot of 24 would be hugely unpopular and I believe would have significant impact on its reputation as a lender to big busniess. I do think CBA would be mindful of this, particularly since their position is largely SECURED not UNSECURED. If they send CNP to the wall, they have the most to gain and would gain it easier being mainly secured, but the other 23 lenders have the most to lose, since they are not nearly as secured in their lending.

If I was a business owner, and CBA pulls the plus, irrespective of the size of my business operations, I would most certainly not choose CBA as a lender to my business. Other business people will certainly be likeminded. CBA will need also to have regard for the potential fallout in their reputation, not just the CBA share price.