Good evening,

Dexus made the most of a quiet Monday for deals, launching a late $500 million convertible notes deal via BoA’s capital markets desk.

Dexus was seeking to raise $100 million to repurchase some existing hybrid securities and raise the rest for general corporate purposes.

BoA’s expected to price the deal on Monday night, and find investors for an associated $135 million delta placement. Dexus will reveal final pricing details on Tuesday morning.

As we said, it was otherwise a pretty quiet Monday for deals. The highlight was Beach Energy’s rapid-fire $250 million binding bid for Warrego Energy, which was negotiated in the space of one weekend.

In Street Talk tonight, we take a look at Incitec Pivot ahead of its results day and as investors seek an update on its demerger, and check in on bombed-out distiller Lark.

Happy reading,
Anthony Macdonald, Sarah Thompson and Kanika Sood
Street Talk editors