King & Wood Mallesons (
KWM) acted for Suncorp Group Limited in its recent capital notes offer.
Suncorp’s latest offer, which has completed the bookbuild phase, raised $300m under the broker firm and institutional components. Suncorp is issuing capital notes 2 to raise further eligible additional tier 1 capital.
Suncorp will use the money to fund the capital needs of one or more of its regulated entities. It will also use the capital to partially refinance the company’s convertible preference shares issue in 2012.
“This is
the second of two additional tier 1 capital raisings in which we have supported Suncorp this year, and we are proud to advise Suncorp on this strategic transaction which is a key part of the group’s ongoing funding and capital management strategy,” said partner Rhys Casey, who jointly led the KWM team.
Partners Evie Bruce and Ian Paterson also led the team. They were supported by senior associate Andrew Fei and solicitors Luke Mulcahy and John Arthur.
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