Australia's Insignia drops as it declines early notes redemption

Insignia Financial

03/03/2025 23:50

** Shares of Insignia Financial IFL.AX slip 2.6% to A$4.16, hitting their lowest since January 16

** Insignia declines an early request by National Australia Bank NAB.AX to redeem A$200 mln ($124.28 mln) in subordinated notes

** Rejection to early redeem means IFL will pay a 4% coupon on notes, higher than the previous 1%

** IFL stock up 17.2% YTD

($1 = 1.6093 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)

 ((Rishav.Chatterjee@thomsonreuters.com))