Macquarie Group (ASX: MAQ) is considering a new hybrid offer to replace AU$1 billion of capital notes callable in December. The original capital notes, issued in 2018, also amounted to AU$1 billion. While the size of the new offer isn't specified, it's expected to be similar.
Macquarie will act as the sole arranger and joint lead, with ANZ, Citigroup, Commonwealth Bank, E&P Capital, Morgans Financial, National Australia Bank, Ord Minnett, Shaw and Partners, and Westpac jointly leading the issue. These capital notes, or hybrids, are mandated by the prudential regulator to protect deposit holders in case of a banking crisis.
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