Bendigo and Adelaide Bank (BEN) priced its tier one hybrid securities on September 28, announcing a volume of A$200 million (US$130.5 million) at the tight end of its offer – 500 basis points over bank bill swap rate (BBSW). As with the recently-priced Commonwealth Bank of Australia (CommBank) hybrid, BEN says its securities will qualify as additional tier one capital under full Basel III rules.
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