News

Care needed with unsecured debt

Wednesday 23rd of April 2014

The offer had been touted as for $300 million of $1 debt securities and up to $100 million of oversubscriptions. Brent Sheather, of Private Asset Management, said he was not surprised the bank had managed to get the full $400 million.

The 6.65% interest rate applies until a potential call date on June 15, 2019. Interest will be paid quarterly, in arrears.

Sheather said: “Banks are...

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