Investment Research Updates

Bendigo & Adelaide Bank Capital Notes – BENPH

Lonsec have initiated coverage and assigned ratings to Bendigo and Adelaide Bank Capital Notes – BENPH.

Bendigo and Adelaide Bank Capital Notes (BENPH) issue is structured as Basel III compliant Additional Tier 1 (AT1) security paying quarterly, fully franked distributions based on a margin of 3.80% over the 90-day Bank Bill Swap Rate and discounted for franking.

Lonsec’s Viewpoint Report covering the key elements of the security, and the various risks involved in now available in the Members Research Portal.

Members can view this report by clicking on the Hybrids sub-menu, type BENPH in the search box, and click the report icon in the table.