BBSN - Subordinated Notes (BNBG)
BBSN are Australian dollar denominated, unsecured, subordinated, cumulative, resettable notes issued by Babcock & Brown. They are debt obligations of Babcock & Brown.
BBSN pay floating rate, semi-annual, cumulative interest until the first reset date (15 November 2010).
Interest payment dates are 15 May and 15 November unless changed at the first reset date (15 November 2010), subject to deferral rights, with penalty interest accruing on outstanding interest.
Key dates
15 May and 15 November every year
Subsequent interest payment dates
15 November 2010
First reset date
15 November 2015
Maturity date