Challenger Ltd has converted 277,380 outstanding Challenger Capital Notes ASX:CGFPA (CCN1) into Challenger ordinary shares in what is a rare event in Australian capital markets.
Under the mandatory conversion provisions Challenger said in a statement it issued 3,822,281 fully paid Ordinary Shares at a price of approximately $7.33 per fully...
The Commonwealth Bank of Australia has announced a new Tier 1 hybrid security, CommBank PERLS XVI Capital Notes.
The offer is expected to raise $750 million but could be more or less than that figure. PERLS XVI are expected to commence trading on 13 June, 2023 under the ASX code...
The Bank of Queensland has joined the latest rush to issue hybrid securities before the end of the year.
BOQ has launched a $300 million raise through its offer of Capital Notes 3. The bank says the funds raised will be used for general funding and corporate purposes.
The margin will...
The Commonwealth Bank of Australia (CBA) has launched a new tier-one capital transaction PERLS XIII, seeking A$750 million.
The new offer aligns with spreading the refinancing of $6.1bn of hybrids, spanning the $1.45bn CBAPE (Oct 2021), $1.64bn CBAPF (Mar 2022) and $3.0bn CBAPD (Dec 2022).
The Commonwealth Bank PERLS deal, which...
Ampol Limited has commenced a fully underwritten wholesale offering of A$150 million of hybrid subordinated notes which fall due in 2082.
In a statement the company said the proposed issue forms part of Ampol’s ongoing capital management strategy and follows the successful issue of A$500 million of subordinated notes in...
Today, Macquarie Bank cancelled its planned new $500m hybrid issue. Macquarie stated, ‘The decision to withdraw was made given significantly changed market conditions in recent weeks’. Macquarie also stated that the news did not impact its commitment to repay the $429m outstanding on MBLPA due 24 March 2020 or...
ANZ Bank has today launched its Additional Tier 1 capital security offer, ANZ Capital Notes 9, seeking to raise around $1 billion.
At the same time, ANZ also announced that it will redeem ANZ Capital Notes 4 on 20 March 2024. Eligible Capital Notes 4 holders may apply to reinvest...
Telstra, Transurban and APT Pipelines all issued euro-denominated bonds over the last few months, accessing the busier than usual European bond market.
In contrast, the domestic corporate bond market has been relatively quiet until last week when Woolworths broke the drought and bought a $1 billion, dual tranche deal to...
Macquarie Bank (ASX:MBL) has now opened its offer for Macquarie Bank Capital Notes 3 (BCN3). The offer is expected to close on Tuesday 24th August 2021.
BCN3 securities are perpetual, unsecured, convertible, non-cumulative and subordinated notes. BCN3 are mandatorily convertible to MGL ordinary shares on 8 September 2031. There is...
NAB recently launched a new hybrid and raised $600m, less than a third of the $1.95bn accepted earlier this year.
Pricing was higher at 400 basis points over three-month bank bills compared to 295 basis points back in March.
The lower $600m amount is likely in part to reflect the higher...
