Macquarie taps investors for $400m

Macquarie Group wants to raise $400m from retail and institutional investors through the issue of capital notes.

Macquarie Group is tapping retail and institutional investors for $400 million.

Macquarie plans to issue convertible capital notes to investors at $100 each.

Macquarie chief financial officer Patrick Upfold says the capital notes will replace $US400 million ($A552.98 million) worth of hybrid securities known as preferred membership interests, in line with plans announced in October.