Rabo Capital Securities sets rate on PIE Capital Securities offer
25-5-2009 | Other news
Rabo Capital Securities Limited (“Rabo Capital”) today announced the dividend rate for its PIE Capital Securities issue has been set at 8.7864%. This reflects a margin of 3.75% over the five year swap rate of 5.0364%.
The dividend rate will be reset on June 18, 2014 for a further five years at a 3.75% margin over the prevailing five year swap rate. After that, the dividend rate will be reset quarterly at the same margin over the prevailing 90-day bank bill rate.
Rabo Capital’s offer of PIE Capital Securities accepted a total of NZ$280 million in applications. The offer was oversubscribed by 40%.
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