Sponsored by Laminar Capital
Warwick Credit Union Limited has launched a $6 million perpetual, convertible, unsecured, subordinated notes issue.
Warwick Credit Union was formed in 1970 to provide a range of financial services to its members. Today it offers a full suite of services including home, car, personal and business loans, transactional and savings accounts, and motor, travel and personal insurance. It has over 10,000 members and 40 staff who service the local community.
Laminar Capital is mandated as the sole lead manager with applications available to be lodged at bondhub.com.au
Details of the issue are as follows:
Issuer: Warwick Credit Union Limited
Face Value: $100.
Offer Opens: 6 November 2017
Offer Closes: 6 December 2017
Issue Date: 15 December 2017
Optional Redemption Date: 15 December 2022
Format: Perpetual, convertible, unsecured, subordinated
Size: $6 million
Gross Coupon Margin/Yield: 3 month BBSW + 6.30% (Yield of 8.01% as at 13 November 2017)
Franking Included: Yes