Bendigo and Adelaide Bank (ASX:BEN) is set to issue AU$300 million of subordinated floating rate notes on Friday, according to a same-day filing with the Australian bourse.
The notes will mature in August 2036 and will be issued under the company's AU$12 billion debt instrument program.
Bendigo and Adelaide Bank expects the proceeds of the issuance to increase its total capital adequacy ratio on a L2 basis by about 0.75% as of June 30.
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