Bendigo and Adelaide Bank announces A$200m Tier 1 offer

April 27, 2015 3:30 AM

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SYDNEY, April 27 (IFR) - Australia's Bendigo and Adelaide Bank has announced plans to raise approximately A$200m (US$156m) from its latest issue of Convertible Preference Shares 3 (CPS3).

Price guidance for the retail-targeted, Basel III-compliant Tier 1 notes is 400bp-420bp over 180-day BBSW. The bookbuild to set the margin is expected on May 1. Bendigo has the ability to raise more or less from the issue, depending on demand.

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