Australian power company AusNet has issued a €700 million, 60-year international hybrid deal.
The hybrid issue, in the form of non-convertible subordinated notes, is due for a first call in 2026 with maturity set for March 2081.
There is a refinancing element with proceeds from the hybrid issue will be used...
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...
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...
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...
Westpac has today announced to the market the launch of its hybrid Capital Notes AT1 offer where it is seeking to raise around $750 million in additional tier-one capital.
The bank said its offer includes a reinvestment offer for eligible Westpac Capital Notes 6 holders.
Westpac said the margin will be...
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...
Westpac Banking Corporation has announced the offer of Westpac Capital Notes 8 which is a new additional Tier 1 capital instrument.
The bank is looking to raise AUD$1billion which will help it maintain its requirements under the APRA capital adequacy framework.
The offer opening date is 25 August 2021 and will...
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...
As published in The Australian on Saturday 15 June 2020
Virgin Australia’s administration is a recent low point for Australian financial markets, with mums and dads being caught holding corporate bonds that may prove worthless.
The airline business is inherently risky. Oil prices, currency fluctuations, a commodity-like service and the threat...
