Seek considering issue of subordinated notes alongside senior FRN repurchase

On 22 June, Seek (NR) revealed plans for an Australian dollar transaction, potentially to tap its existing 2026 subordinated notes or issue new subordinated notes. At the same time, Seek released a tender memorandum, inviting holders of its A$175 million (US$119.5 million), April 2022, senior floating-rate notes (FRN) to offer any or all of their holdings for potential purchase by the issuer.