Funds Focus

ANZ Bank has just announced the launch of a new income offer: ANZ Capital Notes 2.The first round of access is through a broker firm allocation, prior to shareholder offer and listing in August.

The Notes will pay a semi annual coupon of 3.4%-3.6% (rate determined by the bookbuild) over the 180 day bank bill swap rate (BBSW), which was 2.82% as of 2nd July, with an initial indicative rate of 6.22%-6.42%pa. (The first pricing is due to be set on date of issue) The Notes are expected to redeem

National Australia Bank has just announced the launch of a new income offer: NAB Convertible Preference Shares (CPS) II.The first round of access is through a broker firm allocation, prior to shareholder offer and listing in December. The Notes will pay a quarterly coupon of 3.25%-3.4%pa (rate determined by the bookbuild) over the 90 day bank bill swap rate (BBSW), which was 2.59% as of 13th November, with an initial indicative rate of 5.84%-5.99%pa. (The first pricing is due to be set on date

Sandon Capital has announced the launch of a new Listed Investment Company: Sandon Capital Investments Limited (SNC).The first round of access is through a broker firm allocation, prior to the shareholder & general offer and listing in June. Sandon aims to provide investors with a 6c per share fully franked dividend (subject to available franking credits), growth and protect capital. The Shares will be tradable on the ASX.

This issue is the launch of an Activist Investment strategy