On 7 May, Macquarie Group launched an additional tier-one (AT1) capital notes offer with indicative volume of A$600 million (US$450.8 million). The transaction is being marketed at 400-420 basis points over three-month bank bills, with the final margin to be announced on 11 May following a bookbuild. The offer is expected to open on 15 May and close 1 June. The notes will have a mandatory exchange date of 15 December 2027.