ABE releases Rolls Royce bondBY CHLOE WALKER | FRIDAY, 24 JUN 2022 12:50PM
Read more: Australian Bond Exchange, Bradley McCosker
It's one of the most luxurious automotive brands in the world and it now has its own bond linked security from the Australian Bond Exchange.
Fixed at 5.5% per annum, the Rolls Royce bond linked security is the latest addition to ABE's offerings to retail, wholesale, and institutional investors.
ABE already offers products linked to Jaguar Land Rover, Xerox ansd Goodyear Tyres.
The bond is a fixed rate coupon, fully currency hedged into Australian dollars, and paid semi-annually until February 2026.
ABE's managing director Bradley McCosker said that investors are showing great interest in this type of product.
"The demand for the Rolls Royce Bond Linked Security saw the issue going oversubscribed by 60%, leading to an upsize of the deal in order to accommodate that increased demand," he said.
"The recent market volatility provides us with opportunities that under normal market conditions would not be available. It is pleasing to be able to provide those opportunities directly to Australian private investors."
ARDEA INVESTMENT MANAGEMENT PTY LIMITED