Investment Opps

Channel Capital provides 2 new, market leading SIV Solutions – the CC SIV Series 1 Fund and the CC SIV QLD Fund.

The Commonwealth of Australia is selling 100% of the securities in  Medibank Private Limited (MPL) by Initial Public Offer (IPO) of securities on the ASX. 2,754 million securities will be offered representing $4,269-$5,508m based on the lower and upper values of the indicative price range.   Indicative Price Range – A$1.55-2.00 per share Joint Lead Managers – Deutsche Bank AG Sydney Branch, Goldman Sachs Australia Pty Ltd and Macquarie Capital (Australia) Ltd. Co-Lead Managers- Bell Potter Securities Limited, Commonwealth Bank of Australia, Morgans Financial Limited, UBS Wealth Management Australia Limited. Co-Managers – Evans and Partners Pty Ltd, Ord Minnett Limited   Medibank is Australia’s largest private health insurer.   Retail offer 28 October- 14 November 2014 AEST Book build closes and Broker Sponsored Bids due 20 November 2014 12 Noon Listing 25 November 2014

Macquarie Bank announced its intention to raise A$400m (more or less), through the offer of Bank Capital Notes (BCN). The notes will be quoted on the ASX under the code MBLPA. They are fully paid, unsecured, subordinated, non-cumulative, mandatorily convertible notes issued by MBL at $100 per BCN. Distributions will be paid semi-annually in arrears subject to certain Payment Conditions. Indicative distribution rate is 180 day BBSW  plus margin in the range of 3.10-3.30%, and mandatory conversion into MGL shares is 24/3/2023 subject to certain conditions. The offer is made under a prospectus, and available only to investors resident in Australia and to certain institutional investors.   Macquarie Bank is Sole Arranger and a Joint Lead Manager. ANZ Securities Ltd, Citigroup Global Markets Australia Pty Ltd, Commonwealth Bank of Australia, Evans and Partners Pty Ltd, J.P. Morgan Australia Ltd, Morgans Financial Limited and National Australia Bank Ltd have also been appointed as JLMs. Broker firm offers close 5pm (Sydney Time), 7 October 2014.   For further information please see www.macquariebcnoffer.com.au For Australian Investors only, not for distribution in the United States.

Challenger Ltd has launched Challenger Capital Notes which will raise $250m (more or less), to fund future growth in its annuity business. All proceeds will be used to fund additional Tier 1 capital for Challenger Life. It is expected they will be quoted on the ASX under CGFPA. Notes are fully paid, unsecured, subordinated, perpetual notes which will convert into ordinary shares on or after 25th May 2022 subject to certain conditions. Holders will receive a discretionary, floating rate and non-cumulative quarterly distributions which are expected to be 70% franked. The margin under book build is 3.4-3.60% p.a.   UBS is the Structuring Adviser and Joint Lead Manager. J.P. Morgan, National Australia Bank, and Westpac Institutional Bank have also been appointed JLMs.   Further information can be found at www.challengercapitalnotes.com.au For Australian Investors only, not for distribution in the United States.

CGF has announced its intention to raise $250m in an underwritten Institutional Share Placement, and a further $30m from existing retail shareholders via an SPP. The Institutional Placement will be offered to qualified and Sophisticated Investors today, with the issue price determined via a variable price bookbuild process with an underwritten “floor” of $7.35 per share. The floor is a 6% discount to the last closing price on 19/8/14, adjusted for final FY14 dividend of 13.5c per share. SPP record date 19/8/2014 7pm   Further information can be found at www.challenger.com.au For Australian Investors only, not for distribution in the United States.