Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
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.