Macquarie Group Limited announced the initial allocation of $A650 million of Macquarie Group Capital Notes 3 (“MCN3”) to Syndicate Brokers and Institutional Investors under the Institutional Offer and the Broker Firm Offer, pursuant to its offer of MCN3 (“Offer”), which was announced to the Australian Securities Exchange.
While MGL has initially allocated $A650 million in firm commitments to Syndicate Brokers and Institutional Investors under the Institutional Offer and the Broker Firm Offer, the Bookbuild in respect of the Broker Firm Offer will remain open for indicative demand by Eligible MCN Holders that are clients of Syndicate Brokers until 12.00pm on Thursday, 10 May 2018.
The Margin has been set at 4.00% per annum, which was at the bottom of the expected Margin range of 4.00% to 4.20% per annum.
The final size of the Offer will depend upon the volume of Applications received and accepted under the Broker Firm Offer, Reinvestment Offer and Securityholder Offer, which are due to open on Tuesday, 15 May 2018. MGL reserves the right to scale-back Applications if there is excess demand, however Reinvestment Applicants will be given a priority allocation over Securityholder Applicants.
Full details of the Offer and the terms and conditions of MCN3, including the Margin and Offer size will be set out in the Replacement Prospectus which is scheduled to be lodged with the Australian Securities and Investment Commission (“ASIC”) by MGL on Tuesday, 15 May 2018, subject to the expiry of the exposure period with ASIC.
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkine.com.au and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.