Brisbane-based
Suncorp Group Limited has announced the successful completion of the bookbuild for its offer of capital notes launched this week.
The company has allocated $300 million of capital notes under the broker firm offer and institutional offer, and the margin has been set at 4.10% p.a., the bottom of the margin range of 4.10%-4.30% p.a. indicated at the offer launch.
Suncorp said the final size of the offer will be based on the volume of applications received and accepted under the securityholder offer, with the insurer reserving the right to reduce applications in case of demand excess.
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“We received strong demand and are pleased with the level of investor support shown for the offer,” said Steve Johnston, Suncorp CFO.
A replacement prospectus containing full details of the investment opportunity, as well as the terms and conditions of capital notes, is expected to be lodged with the Australian Securities and Investment Commission (
ASIC) and the Australian Securities Exchange on April 04, 2017.
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