Area: Banking and finance

Value: $325 million

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Key players: Banking and finance partner Paul Jenkins and special counsel James Morris led the transaction, with support from partner Teresa Dyson and senior associate Bronwyn Kirkwood

Deal significance: On 4 May 2012, Rabobank issued a new series of $325m Floating Rate Notes under its $15 billion Debt Issuance Programme. The notes have a five-year maturity and include a put option, which allows holders to cash out of their investment with 12 months notice. The 12-month notice period for the put option is a first in the Australian market. By exercising the put option, holders receive a new series of one-year notes, effectively "cashing-out" their original five-year notes with 12-months notice. According to Rabobank, the structure of the trade allows Rabobank, as an issuing bank, to satisfy net stable funding ratio requirements while capturing demand from investors in shorter-dated securities.