Macquarie sets margin and upsizes AT1 deal

Macquarie Group completed the bookbuild for its additional tier-one (AT1) capital deal, Macquarie Group Capital Notes 5 (MCN5), late in the day on 19 February. The margin has been set at 290 basis points over three-month bank bills, below the indicative range of 300-320 basis points, and the volume upsized to A$550 million (US$433.3 million) from A$500 million, with the ability to raise more or less.