AMP Limited
(ASX:AMP)is looking to raise $200 million in capital through a new offer of ASX-listed, subordinated, unsecured debt securities.
The financial services group says the AMP Subordinated Notes 2 will be used primarily to fund Tier 2 capital throughout the group and for general corporate, funding and capital management purposes.
The securities will be available to eligible AMP Notes holders via a reinvestment offer as well as to security holders, institutional investors, clients of syndicate brokers and other satisfactory members of the public.
AMP plans to open the offer on November 13, with the offer closing on December 9 and the securities to begin trading on December 19.
AMP generated a net profit of $445 million in fiscal 2013.
