Macquarie launches AT1 deal MCN5

On 15 February, Macquarie Group launched an indicative A$500 million (US$389.2 million), 9.5-year non-call 6.5-year, additional tier-one capital transaction, Macquarie Group Capital Notes 5 (MCN5). The offer is being marketed with a margin of 300-320 basis points area over three-month bank bills. The final margin is expected to be announced on 19 February.