Macquarie to sell US$1bn of capital

Macquarie Group announced in the US this morning that it plans to sell US$1 billion of subordinated unsecured US medium-term notes, Dow Jones reported.

The 10-year issue will be sold in the private placement Rule 144a market and will have a final maturity date of April 7, 2021.

The deal was launched with a risk premium of 320 basis points over US Treasuries, five basis points narrower than the level suggested by preliminary pricing guidance.

Macquarie had A$11 billion in share capital, including retained earnings, and A$2 billion in subordinated debt at September 2010.