Insurance Australia Group is seeking to raise $400 million through the offer of IAG Capital Notes 2, which the company says is part of its capital management strategy.
Proceeds will be used for general corporate purposes and to refinance existing Capital Notes 1. IAG Capital Notes 1 (ASX:IAGPD) offer was...
Bank of Queensland has closed its BOQ Capital Notes 3 offer raising $400 million through the issue of four million Capital Notes 3 for $100 each.
The Capital Notes 3 are expected to begin trading on 15 November 2022 under the ASX code BOQPG. The first distribution is expected to...
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...
Macquarie Group Limited (ASX:MQG) has lodged its replacement prospectus following the successful completion of its bookbuild for its Macquarie Capital Notes 6 offer which was announced at the end of June.
Macquarie has allocated $750 million in firm commitments to syndicate brokers and institutional investors. The margin for MCN6 was...
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...
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...
New capital notes offers in Australia are locking out retail shareholders from bank hybrid rollovers unless they are ‘sophisticated’ or wholesale investors under new Federal legislation provisions.
The legislation introduced targeted and principles-based design and distribution obligations in relation to financial products. The obligations require issuers and distributors to have...
The Australia and New Zealand Banking Group has announced that it is seeking to raise $1 billion through the offer of ANZ Capital Notes 7.
The notes are fully paid, non-cumulative, convertible, transferable, redeemable, subordinated, perpetual, unsecured notes issued by ANZ.
The offer includes a Reinvestment Offer under which eligible Capital...
Investment management firm Daintree Capital today launched its Hybrid Opportunities Fund, a new global bank hybrid fund that is the first single unit fund of its kind in Australia.
The Daintree Hybrid Opportunities Fund invests in a diversified global portfolio of 25-125 hybrid bank securities including Bank of America, Credit...
