And the notes will be converted in approx.

save hide report. Seem to be a number of ifs and buts. All the copyright in this website and its contents is reserved. Hi David, I'm afraid we don't really. The MCN2 are quoted on the Australian Securities Exchange (ASX) under the code 'MQGPB'. 40% franking and no guaranties on dividends. Seem to be a number of ifs and buts. At the Issuer’s discretion, and subject to approval by APRA, the Notes may be redeemed on 21 December 2025, 21 June 2026 or 21 December 2026. Macquarie Group Capital Notes 2 (MCN2) are unsecured, subordinated notes issued by Macquarie Group Limited. It’s what we’re good at. InvestSMART Publishing Pty Ltd share . Log in or sign up to leave a comment log in …

A Prospectus.

On 11 February 2020, Macquarie Bank Limited (MBL) launched an offer for Macquarie Bank Capital Notes 2 (BCN2, ASX Code: MBLPB), to raise $400 million, with the ability to raise more or less, accompanied by a Reinvestment Offer for holders of the existing BCN (ASX Code: MBLPA). 242 0 obj <>stream endstream endobj 205 0 obj <>/Metadata 126 0 R/PageLayout/SinglePage/Pages 195 0 R/Type/Catalog>> endobj 206 0 obj <>/ExtGState<>/Font<>/ProcSet[/PDF/Text/ImageC]/Shading<>/XObject<>>>/Rotate 0/Tabs/S/Trans 241 0 R/Type/Page>> endobj 207 0 obj <>stream Some products and/or services mentioned on this website may not be suitable for you and may not be available in all jurisdictions.

Now this Macquarie Bank Capital Notes 2 comes out, and the way i understand it is your buying debt into MQG. Capital Notes 2 Offer. MACQUARIE BANK CAPITAL NOTES 2 OFFER OPENS . Answer. 204 0 obj <> endobj The trouble with hybrids is that the devil is always in the detail, so it's unwise to give opinions about them without first researching them thoroughly.On the whole, though, we try to steer away from complexity, especially when combined with attractive features (such as a tempting yield) because the complexity can obscure the downsides.So make sure you understand exactly what you're getting into with them. %PDF-1.5 %���� SYDNEY, Tuesday, 19 May2020 – Macquarie Bank Limited (ASX: MBL) (MBL) today announced that it has opened its offer of Macquarie Bank Capital Notes 2 (“BCN2”) (“the Offer”).

This presentation is dated 11 February 2020 and has been prepared by Macquarie Bank Limited ABN 46 008 583 542 (“ MBL ”) in relation to its proposed offer of Macquarie Bank Capital Notes 2 (“ BCN2 ”) as described in this presentation. New Issue: Macquarie Bank Capital Notes 2.

The MCN2 were listed on the ASX on 18 December 2015. PAGE 2.

Nonetheless, it's still inadequate compensation for the risk, which is … These securities are perpetual, unsecured, convertible, unsecured, subordinated notes. Today got a note in mail about this BCN2 securityholder offer. Completely newbie here, bought some MQG about few weeks ago. Thanks for help. h�b```f``*a`a`�-ff@ a�+s`Pb2 �0��&14lad�Td�b�:�]d^���7�ޫ�n�*����,��loX���'8�Na�lHg`���/��ð����%�!pAZd��Դ���Sg�ޖ9s��4�]J�f=��-p���->����cͲJ[�\wK����Tv���A�)�Y‚c�./����5M�n��e��]�������0�n=ϱVk��4�(���]�V��ؖ(�4�jb¢��;B��^�ᚩ��琶�o Lۅ�[�[@�G�0�w0�w0T40�Wt0�w0�w0�Vt4��Y@���F��� �U��wt40������A�L�@1%w �Q*� ��1 J`�r�Ҋ���DP}��F��bqpzebq�`~”�P}@*�=�����Ajq��ijxh��b�u &��sL{x?H:@S�@�* ��� �Lǐ Enjoy reading your views and analysis. Macquarie Capital Notes 2 (BCN2) Answered by James Carlisle 20 May 2020.

PAGE 2.

The 5.14% margin the Notes offer above the bank bill rate (currently 2.36%) looks appealing relative to term deposits and is better than the 4.2% margin offered by Westpac's (ASX: WBC) recent hybrid issue (see Avoid Westpac Capital Notes 3). The Notes may also be redeemed if a Tax or Regulatory Event occurs, provided certain conditions are met. The MCN2 pay semi-annual distributions on or about:If any of these dates are not a business day, the distribution will be paid on the next business day. Enjoy reading your views and analysis. Distribution rate Past performance of any security or financial product is not a reliable indicator of future performance. The MCN2 offer raised $A531 million through the issue of 5.31 million MCN2 at $A100 each.The initial mandatory exchange date is 18 March 2024.Any information contained here is general in nature, is a summary of only some of the features of the MCN2 and has been prepared without taking into account your objectives, financial situation or needs. Basically Macquarie are raising debt to finance stuff, They are paying 4.75-4.9% PA with approx. A user of this website should seek financial advice specific to that user’s situation before making any financial decision. They are non-cumulative and mandatorily convertible. Macquarie Capital Notes 2 (BCN2) Question. h�bbd```b``�u �iX� D2��H�#`q0�,�f'�IW0�D���,ӟ�ո�MP�r���vE�ma`�+���Q�-@� 1Q G This presentation is dated 11 February 2020 and has been prepared by Macquarie Bank Limited ABN 46 008 583 542 (“ MBL ”) in relation to its proposed offer of Macquarie Bank Capital Notes 2 (“ BCN2 ”) as described in this presentation. Question. Enjoy reading your views and analysis. We create positive social impact by empowering people to innovate and invest for a better future.Our diverse team of experts share their latest thinking.We are a global financial services organisation with Australian heritage, operating in 31 markets.We offer our investors a track record of unbroken profitability.We believe in a workplace where every person is valued for their uniqueness and where different views and ideas are embraced.Follow the links to find the logins you’re looking for:Macquarie Group Capital Notes 2 (MCN2) are unsecured, subordinated notes issued by Macquarie Group Limited.

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