The “first ever simple corporate bond”

Australian Unity is offering retail investors a rare chance to invest in senior ranking bonds.

Summary: New legislation allows for “simple corporate bonds”, with terms to maturity up to 15 years and a shorter prospectus. Australian Unity is offering senior ranking simple corporate bonds with a floating rate coupon paying a margin of 2.8 to 2.9 per cent above the 90 day bank bill rate.

Key take-out: The issue presents a rare opportunity for retail investors to invest in senior ranking bonds rather than subordinated or hybrid notes, which abound on the ASX.

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