Suncorp Group Limited’s A$200 Million Debt Sale Pulls Six-Times Demand From Investors
Suncorp Group priced a A$200 million Tier 2 subordinated note issue after demand topped six times the offer size, with notes maturing in June 2037 and priced at 150 basis points over the three-month bank bill swap rate. The insurer also updated its share buyback program and recently secured up to A$2.4 billion in five-year reinsurance protection. Suncorp shares closed at A$17.12, up 2.27% on Thursday.