Suncorp Group (ASX:SUN) looking to raise $250 million

Company News

by Rachael Jones

Suncorp Group (ASX:SUN) is looking to raise $250 million with the ability to raise more or less, through the offer of Suncorp Capital Notes 3.

Capital Notes 3 are expected to be quoted and tradable on the Australian Securities Exchange (ASX) under the code SUNPH.

The proceeds of the Offer are expected to be used to fund the capital needs of one or more regulated entities within the Suncorp Group and for general corporate and funding purposes, including the partial refinancing of Suncorp convertible preference shares issued in 2014 through the Reinvestment Offer.

Shares in Suncorp Group (ASX:SUN) are trading 0.82 per cent higher at $13.45.