Macquarie Bank issues subordinated notes

07 March 2005

Macquarie Bank Limited (‘Macquarie’) announced this morning it had priced a USD350 million Subordinated Eurobond issue. The issue was sold to more than 30 offshore investors in Europe and Asia.

Issue details were as follows:

Instrument: Subordianted Floating Rate Notes issued under the Macquarie
US$10 Billion Debt Instrument Programme
Expected Issue rating: S&P
Moody's
Fitch
A- (outlook stable)
A3 (outlook stable)
A (outlook stable)
Structure: 10½ year non call 5½ year Floating Rate Note
Amount: USD350,000,000
Maturity Date: 18 September 2015 (if not called prior to this date)
Call Option: Macquarie has the right to call the Notes on each interest payment date or or after
18 September 2010 (or at any time if certain tax events occur). All calls are subject to prior APRA approval.
Settlement Date: 18 March 2005
Step-Up: 50 basis points
Coupon: 3 month Libor +25 basis points
Issue Price: 99.746%
Wthholding Tax: The Notes will be exempt from Australian withholding tax
Listing: Luxembourg Stock Exchange
Joint Lead Managers: Citigroup Global Markets Limited
HSBC Bank Ltd
Co-Manager: Macquarie Bank Limited

For further information please contact:

Craig Shapiro
Executive Director
Treasury
Tel: (612) 8232 3375

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