Redemption of $550 million Reset Exchangeable Securities (RES)
20 Sep 2019
IAG and its wholly-owned subsidiary, IAG Finance (New Zealand) Limited (ABN 97 111 268 243) (the Issuer) today give notice that all outstanding Reset Exchangeable Securities (ASX: IANG) will be Redeemed on the Reset Date of 16 December 2019, in accordance with the RES Terms.
Investors were informed of IAG’s intention to redeem the RES in IAG’s FY19 Investor Report and Annual Report released on 8 August 2019.
On 16 December 2019, subject to the RES Terms, each RES Holder will receive the face value of $100 (Redemption Amount) plus the final Interest Payment of $0.9656 for each RES held on 6 December 2019 (the record date for payment of the Interest Payment). The total Redemption Amount payable in respect of all RES on issue is $550 million.
The last day of trading of RES on the Australian Securities Exchange (ASX) will be 4 December 2019.
A copy of the redemption notice that will be sent to all RES Holders is attached.
- Last day of trading of RES on ASX - 4 December 2019
- Record date for Interest Payment - 6 December 2019
- Date for payment of Redemption Amount and Interest Payment - 16 December 2019
Unless otherwise defined, capitalised words used in this announcement have the meanings given to them in the RES Terms.