07 June 2013
Sydney, 7 June 2013: Macquarie Group Limited ("MQG") (ASX: MQG; ADR: MQBKY) today announced that it has closed its offer of Macquarie Group Capital Notes (the "Offer" of "MCN"). Following strong demand, MQG issued 6,000,000 MCN at an issue price of $A100 each, raising $A600 million.
The MCN are expected to commence trading on the ASX on a deferred settlement basis from approximately 12 noon (Sydney time) on Tuesday, 11 June 2013, under the code "MQGPA". Trading on a normal T+3 settlement basis is expected to commence on Friday, 14 June 2013.
As previously stated, the MCN offer facilitates the redemption of $A600 million Macquarie Convertible Preference Securities issued by Macquarie Capital Loans Management Limited (ABN 18 077 595 012) as responsible entity for the Macquarie CPS Trust in 2008 (“CPS”). Pursuant to the Resale Notice, MQG expects that all CPS will be resold and immediately redeemed on 1 July 2013.
CHESS and issuer sponsored holding statements indicating the number of MCN allocated to successful applicants are expected to be dispatched by Thursday, 13 June 2013. Refunds for any over payment are also expected to be dispatched by this date.
Applicants can confirm their holding before receiving their holding statement in the following ways:
Any holder wishing to trade MCN prior to receiving their holding statement is responsible for confirming their allocation to ensure they do not sell any MCN that they do not own. Any person who sells MCN before receiving their holding statement does so at their own risk.
First Distribution Payment
Distributions on MCN are scheduled to be paid on 7 December and 7 June each year, commencing on 9 December 2013 (as 7 December 2013 is a Saturday). The record date for the first MCN distribution is Friday, 29 November 2013.
The distribution rate for the first distribution will be calculated and announced to the market through ASX in early November.
Issue Date VWAP
For the purposes of the MCN Exchange calculations, the Issue Date VWAP is $A42.42.
As noted in the prospectus, MQG applied for a class ruling to confirm the Australian tax consequences for certain holders of MCN. The ATO is expected to issue this class ruling shortly. A copy of the class ruling will be made available at macquarie.com.au and on the ATO website at www.ato.gov.au.
Participation by related parties of MQG
In compliance with ASX requirements, MQG advises that 400 MCN were issued to related parties of MQG in aggregate.
Largest holders and holder distribution schedule
A statement of the 20 largest MCN holders, including the number and percentage of MCN held by those holders, and the distribution schedule of MCN holders is attached.
The Offer was made under a replacement prospectus dated 22 May 2013. For more information visit macquarie.com.au or call the MCN Offer Information Line on 1300 346 778 (within Australia) or on +61 3 9415 4898 (International) (Monday to Friday, 8.30am - 5.30pm, Sydney time).
For all other general enquiries regarding Macquarie, please contact:
Stuart Green, Macquarie Group Investor Relations
+61 (2) 8232 8845
Karen Khadi, Macquarie Group Investor Relations
+61 (2) 8232 3548
Lisa Jamieson, Macquarie Group Corporate Communications
+61 (2) 8232 6016
The information provided in this announcement is not personal investment advice and has been prepared without taking into account your investment objectives, financial situation or particular needs (including financial and taxation issues).
This announcement does not constitute an offer of any securities (including the MCN) for sale or issue. In particular, this announcement does not constitute an offer of securities for sale in the United States. Neither the MCN nor MQG ordinary shares have been or will be registered under the US Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state or other jurisdiction of the United States, and they may not be offered, sold or resold in the United States or to, or for the account of benefit of any "U.S. person" (as defined in Regulation S under the Securities) absent registration or an applicable exemption from the registration requirements.