Search results of Tag: Fixed Income

NAB Subordinated Notes 2 (NABPE) – Analysis

NAB has just announced the launch of a new income offer, NAB Subordinated Notes 2, with the primary purpose of repaying NAB Subordinated Notes (NABHB), which are due to mature this year.

The Notes will pay a quarterly coupon of 2.2%-2.3% (margin determined by the book build) over the 90 day bank bill swap rate (BBSW), which was 1.77% at 10 February 2017. The initial indicative rate will be 3.97%-4.07%pa with the rate set on the date of issue. The Notes are expected to redeem on 20 September

Hybrid, Fixed Income, IPO, Fixed Income Hybrids, NAB, Hybrid IPO, review

ANZ Capital Notes 4 (ANZPG) – Analysis

ANZ has just announced the launch of a new income offer: ANZ Capital Notes 4. The first round of access is through a broker firm allocation, prior to shareholder and general offer and listing in September.

The Notes will pay a quarterly coupon of 4.7%-4.9% (margin determined by the book build) over the 90 day bank bill swap rate (BBSW), which was 1.76% as of 19th August. The initial indicative rate will be 6.46%-6.66%pa with the rate to be set on the date of issue. The Notes are expected to

Fixed Income, IPO, Capital Notes, ANZ, review, analysis, shares

Mercantile Unsecured Notes (MVTHA) – Analysis

Mercantile has just announced the launch of a new income offer: Mercantile Notes. Access is available through a broker firm allocation, shareholder and general offer, prior to listing later this month.

The Notes will pay a half yearly coupon at 8%pa and are due to mature 7th June 2021. The Notes will be tradable on the ASX.

This issue will be used primarily to expand the underlying portfolio and repay existing short term debt.

Mercantile Notes Offer Details
Issuer – Mercantile

Fixed Income, IPO, Capital Notes, review, analysis, shares, offer