Overview of Bendigo and Adelaide Bank's CPS4 reinvestment notice

Bendigo and Adelaide Bank Limited (ASX: $BEN) has issued an exchange notice to CPS4 holders regarding the reinvestment of CPS4 in Capital Notes 2 under the Bendigo and Adelaide Bank Capital Notes 2 Reinvestment Offer. The offer is detailed in the prospectus lodged with the Australian Securities and Investments Commission and the ASX. The company has amended and restated the original terms of CPS4 and has also lodged a prospectus for the issue of Capital Notes 2. The notice outlines the resale of reinvestment CPS4 to a nominated purchaser and the conditions for completion of the resale. Additionally, it provides information on dividends, transfer of reinvestment CPS4, and payment of resale price.

Executive commentary on CPS4 reinvestment notice

The company has appointed UBS AG, Australia Branch as the nominated purchaser for the resale of reinvestment CPS4. The acquisition of the reinvestment CPS4 by the nominated purchaser is subject to the terms and conditions outlined in the notice. The notice specifies the payment of dividends and the transfer of reinvestment CPS4, along with the conditions for completion of the resale. The terms and conditions of CPS4 have been amended and restated on 26 February 2024.

Summary of Bendigo and Adelaide Bank's CPS4 reinvestment notice

Bendigo and Adelaide Bank Limited has issued an exchange notice to CPS4 holders outlining the reinvestment of CPS4 in Capital Notes 2 under the Bendigo and Adelaide Bank Capital Notes 2 Reinvestment Offer. The notice provides important details for CPS4 holders regarding the reinvestment offer and the process of resale to the nominated purchaser. It also outlines the amendments to the terms and conditions of CPS4. The announcement offers insights into the rights and obligations of CPS4 holders and the issuer's mechanisms for exchange, redemption, and resale.