Background
On 23 October 2023, Judo Capital Holdings Limited (Judo) announced an offer to raise $75 million through the offer of new perpetual, subordinated, and unsecured securities called Judo Capital Notes (Capital Notes), with the ability to raise more or less (Offer).
The Capital Notes were issued on 16 November 2023, and began trading on the Australian Securities Exchange (ASX) on 17 November 2023 under the ASX code "JDOPA".
The Capital Notes are fully paid, unsecured, non-cumulative, perpetual, convertible notes which will pay, subject to the terms of the Capital Notes and Judo’s discretion, floating rate quarterly distributions which may be unfranked, partially franked or fully franked. The level to which distributions are franked may vary over time and depends on a number of factors including Judo’s available franking account balance and Judo having sufficient distributable profits.
The Capital Notes qualify as Additional Tier 1 Capital of Judo under APRA’s Prudential Capital Requirements.
Important documents:
Distributions – Past / Upcoming Payments:
