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Rebate Offer
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N/A
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Minimum Initial Investment
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$5,000
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Expected Close Date
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CLOSED
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Bendigo and Adelaide Bank Retail Bonds Series 1 offer prospective investors a floating rate of return, quarterly interest payments, an opportunity for portfolio diversification and the added benefit of liquidity expected to be provided by listing on ASX.
Open to all Australian resident investors, Bendigo and Adelaide Bank is seeking to raise up to a maximum of $250 million under the Offer. Bendigo and Adelaide Bank Retail Bonds Series 1 are 3 year, unsecured debentures, with interest payable to investors at a rate equal to the Bank Bill Rate plus a fixed Margin of 1.40% per annum.
Key Features
- Benefit in a rising interest rate environment with a floating rate of return.
- Quarterly interest payments.
- Interest is not deferrable by the Bank.
- Expected ASX listing provide liquidity in the event investors wishes to exit prior to maturity.
- 3 year term.
Bendigo and Adelaide Bank Retail Bonds rank:
- equally amongst themselves
- at least equally with all other unsecured creditors of the Bank except creditors
- mandatorily preferred by law
- ahead of holders of ordinary shares and subordinated creditors of the Bank1
Minimum application is 50 Retail Bonds at $100 per Retail Bond totalling $5,000. The Offer closes at 5:30pm (Melbourne time), 8 March 2011^.
| Fee Disclosure | | 2020 DIRECTINVEST will receive a 0.50% placement fee. |
1 However, Bendigo and Adelaide Bank Retail Bonds rank behind creditors mandatorily preferred by law (including holders of “protected accounts”) and any secured creditors of the Bank. See further “Ranking” on page 7 of the Offer Document.
^Bendigo and Adelaide Bank may vary the timetable, including to close the Offer early, extend or withdraw the Offer.
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