Bendigo & Adelaide Bank Ltd. (AU:BEN) has released an update.
Bendigo and Adelaide Bank Limited has announced the resale of its Converting Preference Shares 4 (CPS4), with a scheduled payment of proceeds and final dividend to eligible holders on June 13, 2024. The Nominated Purchaser, UBS AG Australia Branch, will acquire the CPS4 at $100 per share, subject to certain terms and regulatory approvals. This strategic move does not suggest any future redemption of other regulatory capital instruments by the bank.
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