BEN prices Australia's first wholesale tier-two issue under Basel III rules
- Tuesday, 21 January 2014
On January 21, Bendigo and Adelaide Bank (BEN) (A-/A2/A-) priced a new Australian dollar subordinated benchmark 10-year non-call-five floating rate note (FRN) transaction, in the borrower's first deal of 2014. The transaction is also the first-ever Australian bank tier-two deal to be issued under Basel III rules without retail documentation.
