Macquarie Capital Notes

Good Morning,
Just interested in your thoughts on the Macquarie Capital Notes 3 Securityholder Offer please..

Many thanks

A: Thanks for the question.

I think that Macquarie Capital Notes 3 are ok, without being spectacular.

A margin of 4.0% for a 9.5 year note (optional call after 6.5 years) is credible.

Historically, it is about mid-range.

Regards


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