Why are Challenger’s (ASX:CGF) shares in focus today?

2 min read | September 08, 2022 11:18 AM AEST | By Bhawna Gupta

Why are Challenger’s (ASX:CGF) shares in focus today? — Image source: © Wrangler | Megapixl.com

More details on subordinated notes

The CLC Subordinated Notes will be available to institutional and other wholesale investors at a discounted rate. The nominal face value of each note is AU$10,000, with a minimum subscription amount of AU$500,000 or more.

The notes are otherwise issued in a way that does not necessitate disclosure under Part 6D.2 or Corporations Act 2001, Chapter 7. The company further informed that the CLC Subordinated Notes are unavailable to retail investors and will not be accompanied by a prospectus.

The pricing of the CLC Subordinated Notes will be established through a bookbuild procedure, which is projected to take place on 8 September 2022, depending on market conditions.

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Data Source- Company announcement dated 08 September 2022

About Challenger

Challenger focuses on providing consumers with financial stability for a better retirement. The company has three major investment businesses: fiduciary funds management, an APRA-regulated life division, and an APRA-regulated authorised deposit-taking institution.

Challenger Life Company Limited (Challenger Life) claims to be Australia's largest annuity provider.

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