Print Challenger has announced that it has appointed Equity Trustees as note trustee for its Capital Notes 3, a perpetual convertible security which has raised $385 million. The proceeds from the offer, which was issued in November and was listed and tradeable on the Australian Securities Exchange (ASX), were used to fund the regulatory capital requirements of Challenger Life Company Limited and help refinance an earlier release of capital notes (Challenger Capital Notes) through a reinvestment offer and repurchase invitation. “We are delighted to be working with Challenger on the issue of these notes which is one of the most significant retail notes deals for which Equity Trustees has been appointed,” James Connell, general manager corporate trust and securitisation at Equity Trustees, said.