BSB 806 015

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BSB 806 015

Successful issue of A$75 million Capital Notes

19 May2022

Police & Nurses Limited (“PNL”) is pleased to announce that it has successfully closed its A$75 million Capital Notes offering. The issue was oversubscribed by 1.4x supporting the confidence in the Capital Note issue.

The Capital Notes are perpetual with an optional call in May 2027 and under the Australian Prudential Regulation Authorities (“APRA”) capital adequacy framework, will qualify as Additional Tier 1 Capital.

The offer was only open to eligible institutional, professional and sophisticated investors in accordance with Part 6D.2 of the Corporations Act 2001.

PNL’s Chief Executive Officer, Andrew Hadley, said, “The Capital Notes are an important instrument for PNL as we execute on our transformation roadmap, deliver a more customer-centric banking experience and continue to support our growth through prudent capital management.”

“We are very pleased with the endorsement of this from investors with strong demand for the Capital Notes resulting in the transaction being oversubscribed,” he said.

National Australia Bank and Ord Minnett were the Joint Lead Managers of the Capital Notes Offering.

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