Macquarie Bank announces determination of purchase price for tender offer for certain of its outstanding senior notes

  Macquarie Bank announces determination of purchase price for tender offer
  for certain of its outstanding senior notes

Business Wire

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tendered and not validly withdrawn prior to the Expiration Time (as defined
below).

                                                           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
                                                                                             amount
4.100% Fixed
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
Commonwealth   AA3
of Australia
Floating
Rate Notes
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
(the “Series
2009-B3
Notes”)
Floating
Rate Notes
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
(the “Series
2009-B6
Notes”)
3.300% Fixed
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
Commonwealth   AL9
of Australia
^(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).

Contact:

Macquarie Group Investor Relations
Stuart Green, +61 2 8232 8845
Karen Khadi, +61 2 8232 3548
or
Macquarie Group Media Relations
Lisa Jamieson, +61 2 8232 6016
Navleen Prasad, +61 2 8232 6472
 
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