The maturity date is listed as July next year, so I'm expecting repayment then, but if they were rolled over I would expect the same interest rate calculations as below to apply, which are quite good as far as I'm concerned.
I admit I haven't read through the offer document since applying for them initially.
The Adjusted Interest Rate is the aggregate of:
(a) the Swap Rate at or about 3.00pm on 14 June 2017; plus
(b) the Issue Margin for the prior Bond Period (being an Issue
Margin of 2.95 per cent per annum); plus
(c) the Specified Margin (being 1.00 per cent per annum).
As at 9.00am on 28 April 2017, the Swap Rate was 2.90 per
cent. By way of illustrative example only, if the Adjusted Interest
Rate was being determined at that time, the calculation set out
above would give an Adjusted Interest Rate of 6.85 per cent per
annum. The Swap Rate will fluctuate between the date of these
explanatory notes and 14 June 2017.
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