SEEK (ASX:SEK) successfully prices A$150m floating rate subordinated note Issuance

Company News

by Anna Napoli

Employment platform SEEK (ASX:SEK) will issue A$150 mIllion of Floating Rate Subordinated Notes with a quarterly coupon of 3 month BBSW + 3.70 per cent.

The Subordinated Notes will be issued under SEEK’s existing Guaranteed Euro Medium Term Note Programme and will be listed on the Singapore Stock Exchange.

Settlement of the Subordinated Notes is expected to occur on 20 December 2019

SEEK says this note issuance is a continuation of the cpompany’s EMTN program, and helps SEEK to deliver diversity in funding structure as well as access new sources of capital.

Shares in Seek (ASX:SEK) closed 0.27 per cent higher to $22.04 yesterday