Bendigo & Adelaide Bank Ltd. plans to issue A$125 million of Tier 2 subordinated notes.

The floating-rate notes will be issued on Dec. 9 under the bank's A$7.5 billion debt instrument program. They are due Dec. 9, 2026.

The notes may be converted into shares in the bank or written off if a nonviability trigger event occurs.

As of Dec. 8, US$1 was equivalent to A$1.34.