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ALE Notes 2 bookbuild oversubscribed

As advised last week, the bookbuild for the ALE Notes 2 unrated, subordinated, ASX-listed note issue took place on Wednesday. The bookbuild generated more than enough interest to cover the A$100 million issue size and resulted in the coupon margin being set at 400 basis points over bank bills. The indicative range was 400 to 420 bps.The offer officially opened on Thursday and ALE Property Group advised that it has some limited capacity to accept oversubscriptions. The offer will close on or before April 27. 

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