ASB issues notes
As part of its efforts to raise tier two capital in line with capital requirements, ASB is offering $250 million in subordinated unsecured convertible notes.
Monday, 7 November 2016
It will have the ability to accept $150m in oversubscriptions from retail investors and eligible institutions.
The offer closes on November 2.
The notes will have a term of about 10 years but could be repaid earlier.
They will be converted into ordinary shares in Commonwealth Bank of Australia or written off if a “non-viability” trigger event occurs, such as ASB or CBA experiencing severe financial difficulty.
The notes are not guaranteed.
Comments from our readers
No comments yet
Sign In to add your comment
Weekly Updates including news and commentary
Today's Best Bank Rates
Today's Top 5 Deposit Rates
Find a Rate
Cash PIE Rates
21 June 2017
6 June 2017
4 May 2017
10 April 2017
Disclaimer - Every possible effort has been made to keep the information in the tables and on this site as accurate as possible, however, neither the publisher, Tarawera Publishing, nor anyone engaged to compile the rates and this site accept any liability for inaccuracies or any loss suffered as a result. It is strongly advised that readers check loan details with providers. The full terms and conditions of this site can be found here.
© Copyright 1997-2017. Tarawera Publishing Ltd. All Rights Reserved.