Australia's Macquarie Group plans A$400 mln Tier 1 for bank unit

November 22, 2015 10:45 PM

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SYDNEY Nov 23 Australia's top investment bank, Macquarie Group, said on Monday it plans to raise at least A$400 million ($289 million) of hybrid securities to maintain a diverse source of funding.

The offer consists of perpetual, subordinated notes that will contribute additional Tier 1 to the issuer's unit Macquarie Bank.

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