ClearView Wealth Limited (ASX: CVW) has announced its intention to redeem all of its outstanding A$75,000,000 subordinated notes due 5 November 2030. ClearView, established in 2010, is an ASX-listed life insurance business that partners with financial advisers to help Australians protect their wealth. The redemption, scheduled for 5 November 2025, will be executed in accordance with the terms and conditions of the subordinated notes issued on 5 November 2020.
The company has formally notified holders of the subordinated notes regarding the upcoming redemption. ClearView has received written approval from the Australian Prudential Regulation Authority (APRA) for the redemption. According to the notice, on the redemption date, each holder will receive the face value of A$10,000 per subordinated note, plus accrued interest up to but excluding the redemption date. Upon payment, all subordinated notes will be cancelled.
ClearView clarified that the redemption of these specific subordinated notes does not indicate any future intentions to redeem other outstanding regulatory capital instruments. Any future redemption of other instruments would also require prior written approval from APRA, which may or may not be granted. Payments will be facilitated through ‘Corporate Actions’ via Austraclear, and holders are not required to take any action in response to the notice.
The ClearView Board has authorised the release of this announcement to the market. Further inquiries can be directed to media@clearview.com.au, or to Trevor Franz at Lancaster Grove Capital for investor-related questions.
