RES

Reset Exchangeable Securities (RES) were perpetual reset exchangeable notes, issued by the New Zealand branch of IAG Finance (New Zealand) Limited, a wholly owned subsidiary of IAG.

On 20 September, IAG and IAG Finance (New Zealand) Limited gave notice that all outstanding RES would be Redeemed on the Reset Date of 16 December 2019, in accordance with the RES Terms. Investors were informed of IAG’s intention to redeem the RES in IAG’s FY19 Investor Report and Annual Report released on 8 August 2019.

On 16 December, IAG announced that all outstanding RES had been redeemed.

The $550 million RES (ASX: IANG) ceased trading on 4 December 2019.