Commonwealth Bank has allocated A$1.77 billion of its latest hybrid issue, PERLS XV, on a firm basis and set the margin at 2.85 per cent over the three-month bank bill swap rate. The issue was launched on Tuesday, with the bank seeking a minimum of $750 million. The notes have a first call date of June 2028 and a mandatory conversion date of June 2031. Catriona Lowe has been appointed to a five-year term as deputy chair of the Australian Competition and Consumer Commission. Lowe is currently a board member of the Australian Energy Regulator. She was co-chief executive of the Consumer Action Law Centre and has worked at the ACCC previously. She will take up her new role in January, when Delia Rickard finishes her term as deputy chair. The Federal Court has made an order granting leave for the transfer of all Collection House shares to Credit Corp, giving effect to a deed of company arrangement between Credit Corp and the Collection House administrators in August. Collection House went into voluntary administration in June after failing to raise funds to recapitalise the business. The DOCA will deliver between 3 and 8 cents in the dollar to unsecured creditors and nothing to shareholders.