On 15 May 2018, Macquarie Group Limited (“MQG”) provided an updated prospectus to coincide with the launch of the Securityholder and Reinvestment Offers for its Macquarie Group Capital Notes 3 (ASX Code: MQGPC).
The offer size was revised upwards again to approximately $900 million, with the ability to raise up to $1 billion.
The margin had previously been set at 4.00% p.a. over 90 Day BBSW, which was at the bottom of the indicative range (4.00 – 4.20%).
Additionally, MQG gave notice of the redemption of all outstanding Macquarie Group Capital Notes (ASX Code: MQGPA) on the first Scheduled Optional Exchange Date (7 June 2018). The last date for trading of MQGPA is expected to be 28 May 2018 and holders will receive a final Distribution of $2.4747 for the six month period to redemption.
The closing date for the Securityholder Offer is 1 June 2018, MQGPC notes will be issued on 7 June 2018, commence trading on a deferred settlement basis on 8 June 2018 and on a normal settlement basis on 14 June 2018.