Macquarie Bank announces determination of purchase price for tender offer
for certain of its outstanding senior notes
NEW YORK -- May 15, 2013
In connection with its previously announced cash tender offer for any and all
of the outstanding Senior Notes (the “Notes”) listed in the table below,
Macquarie Bank Limited (“MBL”) announced today the determination of the
reference yield and purchase price for its 4.100% Fixed Rate Notes due
December 17, 2013 Guaranteed by the Commonwealth of Australia (the “Series
2008-B1 Notes”) and 3.300% Fixed Rate Notes due July 17, 2014 Guaranteed by
the Commonwealth of Australia (the “Series 2009-B11 Notes”) (together, the
“Fixed Rate Notes”).
The tender offer is being made pursuant to an offer to purchase and related
letter of transmittal, each dated May 3, 2013, which set forth a more complete
description of the terms and conditions of the tender offer, including the
calculation of the cash purchase price. Holders of the Notes are urged to read
the offer to purchase and the related letter of transmittal carefully before
making any decisions with respect to the tender offer.
MBL will pay holders (i) of the Series 2008-B1 Notes a purchase price equal to
US$1,023.25 per US$1,000 principal amount of Series 2008-B1 Notes (excluding
accrued interest), (ii) of the Series 2009-B11 Notes a purchase price equal to
US$1,036.54 per US$1,000 principal amount of Series 2009-B11 Notes (excluding
accrued interest) and (iii) of the Series 2009-B3 Notes and Series 2009-B6
Notes (collectively, the “Floating Rate Notes”) the purchase price per
US$1,000 principal amount of such series of Floating Rate Notes set forth in
the table below (excluding accrued interest), in each case for Notes validly
tendered and not validly withdrawn prior to the Expiration Time (as defined
U.S. Fixed Purchase
Title of CUSIP Principal Amount Treasury Reference Spread Price per
Security(1) Numbers ISIN Outstanding Reference Yield (Basis US$1,000
Security Points) principal
Rate Notes 144A:
due December 55607E 144A: 0.125%
17, 2013 AA8 US55607EAA82 US$1,328,958,000 due 0.112% + 0 bps US$1,023.25
Guaranteed Reg S: Reg S December
by the 55607G US55607GAA31 31, 2013
due January 144A:
23, 2014 55607E 144A:
Guaranteed AC4 US55607EAC49
by the Reg S: Reg S: US$250,000,000 N/A N/A N/A US$1,009.46
Commonwealth 55607G US55607GAC96
of Australia AC9
due March 144A:
11, 2014 55607E 144A:
Guaranteed AF7 US55607EAF79
by the Reg S: Reg S: US$650,000,000 N/A N/A N/A US$1,009.31
Commonwealth 55607G US55607GAF28
of Australia AF2
Rate Notes 144A:
due July 17, 55607E 144A: 0.125%
2014 AL4 US55607EAL48 US$510,784,000 due July 0.164% + 0 bps US$1,036.54
Guaranteed Reg S: Reg S: 31, 2014
by the 55607G US55607GAL95
^(1) The Notes are guaranteed by the Commonwealth of Australia (the “Commonwealth”) under the Deed of
Guarantee, dated November 20, 2008, executed on behalf of the Commonwealth.
The purchase price for each series of Fixed Rate Notes was calculated as
described in the offer to purchase in a manner intended to result in a yield
to maturity equal to the sum of the yield to maturity of the applicable U.S.
Treasury Reference Security for such series of Fixed Rate Notes set forth in
the table above as measured at 11:00 A.M., New York City time, today, May 15,
2013 and the applicable fixed spread as shown in the table above. In addition,
holders of Notes that are validly tendered and accepted for purchase will
receive accrued and unpaid interest on the Notes up to, but not including, the
settlement date. MBL expects the settlement date to occur on May 17, 2013,
which is two business days following the expiration of the tender offer.
The tender offer will expire at 5:00 P.M., New York City time, on May 15, 2013
(the “Expiration Time”) unless extended or earlier terminated. To be eligible
to receive the applicable purchase price, holders of the Notes must validly
tender and not validly withdraw their Notes at or prior to the Expiration
Time. Tendered Notes may be withdrawn at any time at or prior to, but not
after, the Expiration Time.
The tender offer is subject to the satisfaction or waiver of certain
conditions set forth in the offer to purchase.
BofA Merrill Lynch, Citigroup Global Markets Inc. and J.P. Morgan Securities
LLC are serving as dealer managers, and D.F. King & Co., Inc. is serving as
the tender agent and information agent for the tender offer.
Neither the offer to purchase nor the related letter of transmittal has been
lodged with the Australian Securities and Investments Commission and the
tender offer is only available to persons in Australia to whom an offer or
invitation can be made without disclosure under Parts 6D.2 or 7.9 of the
Corporations Act 2001 of Australia.
This media release is not an offer to purchase or a solicitation of an offer
to sell any securities. The tender offer is being made only pursuant to the
terms of the offer to purchase and the related letter of transmittal.
Requests for documents may be directed to D.F. King & Co., Inc. toll-free at
(800) 769-7666 or in writing at 48 Wall Street, New York, New York 10005.
Questions regarding the tender offer in the United States may be directed to
BofA Merrill Lynch at (888) 292-0070 (toll-free) or (980) 683-3215 (collect),
Citigroup Global Markets Inc. at (800) 558-3745 (toll-free) or (212) 723-6106
(collect) and J.P. Morgan Securities LLC at (866) 834-4666 (toll-free) or
(212) 834-4394 (collect).
Macquarie Group Investor Relations
Stuart Green, +61 2 8232 8845
Karen Khadi, +61 2 8232 3548
Macquarie Group Media Relations
Lisa Jamieson, +61 2 8232 6016
Navleen Prasad, +61 2 8232 6472
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