On 20 September 2019, IAG and its wholly-owned subsidiary, IAG Finance (new Zealand) announced that all outstanding Reset Exchange Securities (RES, ASX: IANG) will be Redeemed on the Reset Date of 16 December 2019, in accordance with the RES Terms.
This aligns with management's stated intentions from the FY19 Annual Report.
Holders will receive $100 (Redemption Amount) and the final interest payment of $0.9656 for each RES held on 6 December 2019.
The last day of trading of RES on the ASX will be 4 December 2019.
We do not anticipate a replacement issue in the near-term.