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Suncorp Group ( (AU:SUN) ) has shared an announcement.
Suncorp Group has completed the issuance of AU$200 million in floating-rate, unsecured, subordinated perpetual notes to institutional and other wholesale investors, priced at a margin of 235 basis points over the three‑month bank bill swap rate, adjusted for franking. The securities have been structured as Wholesale Additional Tier 1 capital under Suncorp’s note issuance programme, with a cleansing notice lodged to allow ordinary shares issued on conversion to trade freely without further disclosure.
The proceeds will support Suncorp Group’s ongoing funding and capital management strategy, including meeting APRA’s regulatory capital requirements by funding Eligible Additional Tier 1 Capital within regulated entities across the group. The transaction underscores Suncorp’s continued use of wholesale regulatory capital instruments to optimise its balance sheet and maintain flexibility to tap capital markets when conditions are favourable.
The most recent analyst rating on (AU:SUN) stock is a Hold with a A$17.79 price target. To see the full list of analyst forecasts on Suncorp Group stock, see the AU:SUN Stock Forecast page.
More about Suncorp Group
Suncorp Group Limited is an Australian financial services group listed on the ASX that operates under prudential regulation by APRA. The group focuses on banking and insurance-related activities and regularly accesses wholesale capital markets to support its regulatory capital requirements and broader funding and capital management strategy.
Average Trading Volume: 4,628,112
Technical Sentiment Signal: Buy
Current Market Cap: A$18.42B
For an in-depth examination of SUN stock, go to TipRanks’ Overview page.