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AMP Limited Issues A$125 Million Subordinated Notes to Strengthen Capital Base

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AMP Limited Issues A$125 Million Subordinated Notes to Strengthen Capital Base

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AMP ( (AU:AMP) ) has provided an announcement.

AMP Limited and its subsidiary AMP Bank Limited have announced the issuance of A$125 million in Floating Rate Subordinated Notes due in 2035. These notes are intended to serve as Tier 2 Capital, as per the Australian Prudential Regulation Authority’s standards, and are designed to bolster the bank’s financial stability. The notes will not be registered under U.S. securities laws and are aimed at wholesale investors. The issuance is structured to allow conversion into AMP’s ordinary shares or a write-off in case of non-viability, ensuring compliance with regulatory capital requirements.

The most recent analyst rating on (AU:AMP) stock is a Hold with a A$1.85 price target. To see the full list of analyst forecasts on AMP stock, see the AU:AMP Stock Forecast page.

More about AMP

Average Trading Volume: 8,088,865

Technical Sentiment Signal: Buy

Current Market Cap: A$4.21B

Learn more about AMP stock on TipRanks’ Stock Analysis page.

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