IPO Coming Soon

Offer of Bendigo and Adelaide Bank Limited Converting Preference Shares 4 – Coming Soon

Westpac Online Investing is pleased to advise the upcoming opportunity to invest in the Offer of Bendigo and Adelaide Bank Limited Converting Preference Shares 4. The Offer of Bendigo and Adelaide Bank Limited Converting Preference Shares 4 is expected to open on 24th October 2017.

About Bendigo and Adelaide Bank Limited Converting Preference Shares 4

Bendigo and Adelaide Bank Limited (“Bendigo and Adelaide Bank” or “BEN”) has lodged a Prospectus with the Australian Securities and Investments Commission (“ASIC”) for an offer of fully paid converting preference shares to raise A$300 million with the ability to raise more or less (“Offer”). The Prospectus is dated 16th October 2017 and was lodged with ASIC on that date.

BEN Converting Preference Shares 4 are not deposit liabilities of Bendigo and Adelaide Bank and are not protected accounts for the purposes of the depositor protection provisions in Division 2 of Part II of the Banking Act 1959 (Cth) (“Banking Act”) or of the Financial Claims Scheme established under Division 2AA of Part II of the Banking Act and are not guaranteed or insured by any government, government agency or compensation scheme of Australia or any other jurisdiction.

This investment is riskier than a bank deposit. BEN Converting Preference Shares 4 are complex and may not be suitable for all investors.There is a risk that you could lose some or all of your money.

Key features of the BEN Converting Preference Shares 4

Offer size

  • A$300 million, with the ability to raise more or less.

Use of proceeds

  • The BEN Converting Preference Shares 4 (“CPS4”) proceeds may be used to fund the redemption of Bendigo and Adelaide Bank Convertible Preference Shares (“CPS”) and for Bendigo and Adelaide Bank’s general corporate purposes.

Issue price

  • $100 per BEN CPS4.

Term

  • BEN CPS4 do not have any fixed maturity date and could remain on issue indefinitely.

Distributions

  • CPS4 are scheduled to pay quarterly Dividends in arrears in cash on 13 March, 13 June, 13 September and 13 December each year, until Converted or Redeemed, subject to Dividend Payment Tests.
  • The Margin is to be determined under the Bookbuild, expected to be in the range of 3.75% to 3.95%.

ASX quotation

  • Bendigo and Adelaide Bank will apply for CPS4 to be quoted on ASX. CPS4 are expected to trade under ASX code “BENPG”.

To find out more about the Offer, simply click on the banner below to enter our IPO Centre.

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Important Information

Securities trading through Westpac Online Investing is a service provided through Westpac Securities Limited (ABN 39 087 924 221 AFSL 233723) by Australian Investment Exchange Limited (ABN 71 076 515 930, AFSL 241400) (“the Participant”), a Participant of the ASX Group and Chi-X Australia. The Participant is not authorised to carry on business in any jurisdiction other than Australia. Accordingly, the information contained in this communication is directed to and available for Australian residents only.

Westpac Securities Limited is a wholly owned subsidiary of Westpac Banking Corporation (ABN 33 007 457 141 AFSL 233714) (“Westpac”). Westpac Institutional Bank, a division of Westpac has been appointed as Arranger and Joint Lead Manager in respect of the Offer.

Westpac Securities Limited through Westpac Institutional Bank has secured a Broker Firm Offer for Westpac Online Investing customers and may receive a fee from the issuer in respect of applications received from retail investors as detailed in the Australian Investment Exchange Limited / Westpac Securities Limited Financial Services Guide.

The information contained in this website has been prepared using the Prospectus issued by BEN dated 16 October 2017. Neither Westpac Securities Limited nor the Participant makes any representation or warranty as to the accuracy or completeness of the information in the Prospectus. Capitalised terms have the same meaning as given to those terms in the Prospectus unless the context requires otherwise.

Nothing in this website should be construed as financial product advice or as a solicitation, an offer to buy or sell, or a recommendation to buy the BEN Converting Preference Shares 4. The information above is general information only and does not take into account your own investment objectives, personal circumstances, financial situation or needs. Full details of the Offer by BEN are contained in the Prospectus. Investors will need to read and consider the Prospectus in deciding whether to acquire any BEN Converting Preference Shares 4 and anyone who would like to apply for BEN Converting Preference Shares 4 must complete the Application Form that will be in, or will accompany the Prospectus.