Challenger Capital Notes were perpetual, subordinated, unsecured notes issued by Challenger Limited on 9 October 2014 (Challenger Capital Notes or CCN1).
Challenger Capital Notes 1 (ASX Code CGFPA) are no longer trading and were removed from official quotation on the ASX at the close of trade on 25 May 2022.
On 25 May 2022, Challenger announced that it had converted the remaining balance of 277,380 Challenger Capital Notes 1 into Challenger ordinary shares (Ordinary Shares) pursuant to the terms and conditions of the Challenger Capital Notes 1 and issued 3,822,281 fully paid Ordinary Shares at a price of $7.33022554 per fully paid Ordinary Share. The Mandatory Conversion Conditions required to be met under the CCN1 terms and conditions were also satisfied on the same date.
In addition, a final fully franked Distribution of $0.59 per Challenger Capital Note 1 was paid on 25 May 2022 to those persons who were registered holders of Challenger Capital Notes 1 on the record date of 17 May 2022.
For more information on Challenger Capital Notes 1 please refer to:
Challenger Capital Notes 2 were perpetual, subordinated, unsecured convertible notes issued by Challenger Limited on 7 April 2017.
Challenger Capital Notes 2 (ASX Code CGFPB) are no longer trading and were removed from official quotation on the ASX at the close of trade on 22 May 2023.
On 7 March 2023, Challenger announced the offer of Challenger Capital Notes 4 (the Offer). The Offer included a reinvestment offer for certain eligible Challenger Capital Notes 2 Holders to reinvest the proceeds of sale of their Challenger Capital Notes 2 into Challenger Capital Notes 4 (Reinvestment CCN2). A copy of the market announcement regarding the Offer can be accessed below.
On 5 April 2023, Challenger announced that it had completed the Offer and issued $350 million of Challenger Capital Notes 4. Challenger further announced that approximately 2.24 million Reinvestment CCN2 were repurchased for $100 each by the Challenger Capital Notes 2 nominated purchaser (CCN2 Nominated Purchaser). Challenger redeemed all Reinvestment CCN2 in the hands of the CCN2 Nominated Purchaser by payment to the CCN2 Nominated Purchaser of an amount equal to the total face value in respect of the Reinvestment CCN2. Following the completion of the reinvestment offer, approximately $236 million of Challenger Capital Notes 2 remained on issue.
On 5 April 2023, Challenger also issued a redemption notice in accordance with the terms of Challenger Capital Notes 2, confirming that on 22 May 2023, all outstanding Challenger Capital Notes 2 will be redeemed by Challenger for their face value of $100 per Challenger Capital Note 2.
On 22 May 2023, all outstanding Challenger Capital Notes 2 were redeemed for $100 per Challenger Capital Note 2, in accordance with the Challenger Capital Notes 2 terms. In addition, a final fully franked Distribution of $0.71 per Challenger Capital Note 2 was paid on 22 May 2023 to those persons who were registered holders of Challenger Capital Notes 2 on the record date of 12 May 2023.
The market announcements regarding the issuance of Challenger Capital Notes 4 and the redemption notice for Challenger Capital Notes 2 can be accessed below.
Challenger Capital Notes 3 were perpetual, subordinated, unsecured convertible notes issued by Challenger Limited on 25 November 2020.
Challenger Capital Notes 3 (ASX code CGFPC) are no longer trading and were removed from official quotation on the ASX at the close of trade on 25 May 2026.
On 21 April 2026, Challenger issued a redemption notice in accordance with the terms of Challenger Capital Notes 3, confirming that on 25 May 2026, all outstanding Challenger Capital Notes 3 will be redeemed by Challenger for their face value of $100 per Challenger Capital Note 3.
On 25 May 2026, all outstanding Challenger Capital Notes 3 were redeemed for $100 per Challenger Capital Note 3, in accordance with the Challenger Capital Notes 3 terms. In addition, a final fully franked Distribution of $1.47 per Challenger Capital Note 3 was paid on 25 May 2026 to those persons who were registered holders of Challenger Capital Notes 3 on the record date of 15 May 2026.
The redemption notice for Challenger Capital Notes 3 can be accessed below:
Market announcement – Challenger Capital Notes 3 redemption notice
View current and historical notes price.
Challenger Capital Notes 4 are perpetual, subordinated, unsecured convertible notes issued by Challenger Limited on 5 April 2023.
Challenger Capital Notes 4, to the value of $350 million, are issued in Australian dollars and can be traded on the ASX under the ASX code CGFPD. Challenger Capital Notes 4 pay a Margin of 3.60% above the 3 month BBSW Rate. Distributions can be paid by a combination of either cash or franking credits.
Challenger Life Company Limited (CLC) issued $400 million of CLC Subordinated Notes in September 2022.
CLC Subordinated Notes are fully paid, unsecured, subordinated debt obligations of CLC. CLC is rated A+ by S&P Global Ratings (S&P) with a rating outlook of stable. CLC Subordinated Notes qualify as Tier 2 Capital under the Australian Prudential Regulation Authority's Prudential Standards.
Additional information on CLC Subordinated Notes issued in September 2022:
CLC had previously issued $400 million of CLC Subordinated Notes in November 2017. These Subordinated Notes were subsequently redeemed on 24 November 2022.
Additional information on Challenger Life Company:
Challenger Life Company (CLC) 2016 Annual Report
To assist with enquiries please quote your current address and Security Reference Number (SRN) or Holder Identification Number (HIN).
Telephone
1800 780 782 (within Australia) or +61 3 9415 4065 (outside Australia).
Monday to Friday, 8:30am to 5:00pm (Sydney time)
The history of the Distribution payments made on Challenger Capital Notes 2 is provided in the table below.
Ex-date |
Record date |
Payment date |
Distribution |
|---|---|---|---|
| 11/05/2023 | 12/05/2023 | 22/05/2023 | $0.71 |
| 27/03/2023 | 28/03/2023 | 05/04/2023 | $0.64 |
| 13/02/2023 | 14/02/2023 | 22/02/2023 | $1.32 |
| 11/11/2022 | 14/11/2022 | 22/11/2022 | $1.19 |
| 11/08/2022 | 12/08/2022 | 22/08/2022 | $0.95 |
| 12/05/2022 | 13/05/2022 | 23/05/2022 | $0.77 |
| 11/02/2022 | 14/02/2022 | 22/02/2022 | $0.78 |
| 11/11/2021 | 12/11/2021 | 22/11/2021 | $0.77 |
| 12/08/2021 | 13/08/2021 | 23/08/2021 | $0.77 |
| 13/05/2021 | 14/05/2021 | 24/05/2021 | $0.77 |
| 11/02/2021 | 12/02/2021 | 22/02/2021 | $0.77 |
| 12/11/2020 | 13/11/2020 | 23/11/2020 | $0.79 |
| 13/08/2020 | 14/08/2020 | 24/08/2020 | $0.81 |
| 13/05/2020 | 14/05/2020 | 22/05/2020 | $0.89 |
| 13/02/2020 | 14/02/2020 | 24/02/2020 | $0.95 |
| 13/11/2019 | 14/11/2019 | 22/11/2019 | $0.95 |
| 13/08/2019 | 14/08/2019 | 22/08/2019 | $1.04 |
| 13/05/2019 | 14/05/2019 | 22/05/2019 | $1.07 |
| 13/02/2019 | 14/02/2019 | 22/02/2019 | $1.12 |
| 13/11/2018 | 14/11/2018 | 22/11/2018 | $1.12 |
| 13/08/2018 | 14/08/2018 | 22/08/2018 | $1.12 |
| 11/05/2018 | 14/05/2018 | 22/05/2018 | $1.05 |
| 13/02/2018 | 14/02/2018 | 22/02/2018 | $1.08 |
| 13/11/2017 | 14/11/2017 | 22/11/2017 | $1.08 |
| 11/08/2017 | 14/08/2017 | 22/08/2017 | $1.63 |
Payment date |
Franked amount |
Unfranked amount |
Franking credits |
|---|---|---|---|
| 22/05/2023 | $0.71 | $0.00 | $0.30428571 |
| 05/04/2023 | $0.64 | $0.00 | $0.27428571 |
| 22/02/2023 | $1.32 | $0.00 | $0.56571428 |
| 22/11/2022 | $1.19 | $0.00 | $0.51000000 |
| 22/08/2022 | $0.95 | $0.00 | $0.40714285 |
| 23/05/2022 | $0.77 | $0.00 | $0.33000000 |
| 22/02/2022 | $0.78 | $0.00 | $0.33428571 |
| 22/11/2021 | $0.77 | $0.00 | $0.33000000 |
| 23/08/2021 | $0.77 | $0.00 | $0.33000000 |
| 24/05/2021 | $0.77 | $0.00 | $0.33000000 |
| 22/02/2021 | $0.77 | $0.00 | $0.33000000 |
| 23/11/2020 | $0.79 | $0.00 | $0.33857142 |
| 24/08/2020 | $0.81 | $0.00 | $0.34714285 |
| 22/05/2020 | $0.89 | $0.00 | $0.38142857 |
| 24/02/2020 | $0.95 | $0.00 | $0.40714285 |
| 22/11/2019 | $0.95 | $0.00 | $0.40714285 |
| 22/08/2019 | $1.04 | $0.00 | $0.44571428 |
| 22/05/2019 | $1.07 | $0.00 | $0.45857142 |
| 22/02/2019 | $1.12 | $0.00 | $0.48000000 |
| 22/11/2018 | $1.12 | $0.00 | $0.48000000 |
| 22/08/2018 | $1.12 | $0.00 | $0.48000000 |
| 22/05/2018 | $1.05 | $0.00 | $0.45000000 |
| 22/02/2018 | $1.08 | $0.00 | $0.46285714 |
| 22/11/2017 | $1.08 | $0.00 | $0.46285714 |
| 22/08/2017 | $1.63 | $0.00 | $0.69857142 |
Full terms and details of Challenger Capital Notes 3 are available in the Prospectus dated 21 October 2020.
Distributions are discretionary, non-cumulative, floating rate payments and are scheduled to be paid quarterly in arrears on the Distribution Payment Dates. Distributions are expected to be fully franked, however Holders should be aware that franking is not guaranteed.
Quarterly Distribution Payment Dates will be 25 February, 25 May, 25 August and 25 November in each year.
Details of the next Distribution are provided in the table below, which is expected to be paid on 25 November 2026 (subject to certain Payment Conditions).
Ex-date | Record date | Payment date | Distribution |
|---|---|---|---|
| 16/11/2026 | 17/11/2026 | 25/11/2026 | $1.43 |
| 14/08/2026 | 17/08/2026 | 25/08/2026 | $1.42 |
| 14/05/2026 | 15/05/2026 | 25/05/2026 | $1.30 |
| 16/02/2026 | 17/02/2026 | 25/02/2026 | $1.28 |
| 14/11/2025 | 17/11/2025 | 25/11/2025 | $1.26 |
| 14/08/2025 | 15/08/2025 | 25/08/2025 | $1.28 |
| 15/05/2025 | 16/05/2025 | 26/05/2025 | $1.33 |
| 14/02/2025 | 17/02/2025 | 25/02/2025 | $1.41 |
| 14/11/2024 | 15/11/2024 | 25/11/2024 | $1.39 |
| 15/08/2024 | 16/08/2024 | 26/08/2024 | $1.38 |
| 16/05/2024 | 17/05/2024 | 27/05/2024 | $1.38 |
| 15/02/2024 | 16/02/2024 | 26/02/2024 | $1.39 |
| 16/11/2023 | 17/11/2023 | 27/11/2023 | $1.39 |
| 16/08/2023 | 17/08/2023 | 25/08/2023 | $1.97 |
Payment date | Franked amount | Unfranked amount | Franking credits |
|---|---|---|---|
| 25/11/2026 | $1.43 | $0.00 | $0.61285714 |
| 25/08/2026 | $1.42 | $0.00 | $0.60857142 |
| 25/05/2026 | $1.30 | $0.00 | $0.55714285 |
| 25/02/2026 | $1.28 | $0.00 | $0.54857142 |
| 25/11/2025 | $1.26 | $0.00 | $0.54000000 |
| 25/08/2025 | $1.28 | $0.00 | $0.54857142 |
| 26/05/2025 | $1.33 | $0.00 | $0.57000000 |
| 25/02/2025 | $1.41 | $0.00 | $0.60428571 |
| 25/11/2024 | $1.39 | $0.00 | $0.59571428 |
| 26/08/2024 | $1.38 | $0.00 | $0.59142857 |
| 27/05/2024 | $1.38 | $0.00 | $0.59142857 |
| 26/02/2024 | $1.39 | $0.00 | $0.59571428 |
| 27/11/2023 | $1.39 | $0.00 | $0.59571428 |
| 25/08/2023 | $1.97 | $0.00 | $0.84428571 |
To assist with enquiries please quote your current address and Security Reference Number (SRN) or Holder Identification Number (HIN).
Telephone:
1800 780 782 (within Australia)
+61 3 9415 4065 (outside Australia)
Computershare Investor Services Pty Limited
6 Hope Street
Ermington NSW 2115
Challenger Capital Notes 4 are not guaranteed or secured, and are not policy liabilities of Challenger Life Company, Challenger Limited, or any other member of the Challenger Group. Terms used but not defined on this page are defined in the Challenger Capital Notes 4 Prospectus date 15 March 2023.
