Macquarie Bank issues subordinated notes
07 March 2005
Macquarie Bank Limited (‘Macquarie’) announced this morning it had priced a USD350 million Subordinated Eurobond issue. The issue was sold to more than 30 offshore investors in Europe and Asia.
Issue details were as follows:
| Instrument: |
Subordianted Floating Rate Notes issued under the Macquarie US$10 Billion Debt Instrument Programme |
|
| Expected Issue rating: |
S&P Moody's Fitch |
A- (outlook stable) A3 (outlook stable) A (outlook stable) |
| Structure: | 10½ year non call 5½ year Floating Rate Note | |
| Amount: | USD350,000,000 | |
| Maturity Date: | 18 September 2015 (if not called prior to this date) | |
| Call Option: |
Macquarie has the right to call the Notes on each interest payment date or or after 18 September 2010 (or at any time if certain tax events occur). All calls are subject to prior APRA approval. |
|
| Settlement Date: | 18 March 2005 | |
| Step-Up: | 50 basis points | |
| Coupon: | 3 month Libor +25 basis points | |
| Issue Price: | 99.746% | |
| Wthholding Tax: | The Notes will be exempt from Australian withholding tax | |
| Listing: | Luxembourg Stock Exchange | |
| Joint Lead Managers: |
Citigroup Global Markets Limited HSBC Bank Ltd |
|
| Co-Manager: | Macquarie Bank Limited | |
For further information please contact:
Craig Shapiro
Executive Director
Treasury
Tel: (612) 8232 3375