About Us  |   Advertise  |   Contact Us  |   Terms & Conditions  |   RSS Feeds
deposit rates

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


print

Printable version

print

Email to a friend
Newsletter Signup

Weekly Updates including news and commentary

Today's Best Bank Rates
Heartland Bank 2.75
Based on a $50,000 deposit    More Rates »
Today's Top 5 Deposit Rates
InstitutionRateProduct
NZCU Auckland 3.25 Success Saver
Heartland Bank 2.75 Heartland Direct Call
Westpac 2.60 Online Bonus Saver - Potential Rate
Westpac 2.55 Online Bonus Saver - bonus rate
Heartland Bank 2.50 Heartland Business Call
Based on a $50,000 deposit    More Rates »
Find a Rate
Show me the rates for
$
invested over
Use the full calculator
Cash PIE Rates
Institution Rate 30% 33%
ANZ 0.10 0.10 0.11
ASB Bank 0.40 0.41 0.42
ASB Bank 0.55 0.59 0.56
ASB Bank 0.60 0.61 0.64
ASB Bank 0.65 0.66 0.69
ASB Bank 0.70 0.72 0.75
BNZ 0.10 0.10 0.10
Heartland Bank 2.25 2.59 2.70
Kiwibank 0.75 0.77 0.88
Kiwibank 1.75 1.81 1.89
Nelson Building Society 3.75 3.90 4.08
RaboDirect 0.75 0.77 0.80
SBS Bank 1.80 1.86 1.94
TSB Bank 1.60 1.64 1.71
Westpac 0.35 0.36 0.38
Westpac 0.10 0.10 0.11
Westpac 2.10 2.16 2.26

More »

Previous News
Latest Trends
Coming Soon
MORE »

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.