Overview of BEN's Capital Notes 2 offering

Bendigo and Adelaide Bank Limited (ASX: $BEN) has lodged a prospectus for Bendigo and Adelaide Bank Capital Notes 2, aiming to raise $250 million with the ability to raise more or less. The Capital Notes 2 are fully paid, non-cumulative, convertible, transferrable, redeemable, subordinated, perpetual, unsecured notes issued by BEN. They are not deposit liabilities of BEN or protected accounts under the Banking Act or the Financial Claims Scheme. The company has also outlined the Design and Distribution Obligations (DDO Laws) and the Target Market Determination for the offer.

Executive commentary on the Capital Notes 2 offering

The Capital Notes 2 offering represents an important step for Bendigo and Adelaide Bank as we seek to strengthen our capital base and support our ongoing business activities. This offering provides an opportunity for investors to participate in our growth and contribute to our long-term success. We have carefully outlined the terms and conditions to ensure transparency and clarity for potential investors, and we are committed to providing comprehensive information to support informed investment decisions.

Summary of the Capital Notes 2 offering and outlook

Bendigo and Adelaide Bank's Capital Notes 2 offering aims to raise $250 million, with detailed terms and conditions outlined in the prospectus. The company has provided comprehensive information about the offering, including the risks associated with the investment and the potential benefits for investors. The outlook for the offering reflects the company's commitment to transparency, regulatory compliance, and long-term growth. As the offering progresses, Bendigo and Adelaide Bank remains focused on maintaining strong connections with its investors and delivering value through prudent financial management and strategic initiatives.