KWM advises Suncorp on its Capital Notes 4 offer

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King & Wood Mallesons (KWM) has advised Suncorp Group Limited (Suncorp) on its latest offer of Capital Notes 4 to raise $375 million, with the ability to raise more or less.

Suncorp is issuing Capital Notes 4 to raise Additional Tier 1 Capital as part of its ongoing funding and capital management strategy. The proceeds of Capital Notes 4 will be used to fund the needs of one or more regulated entities within the Suncorp Group and for Suncorp's general corporate and funding purposes.

The KWM team advising on the transaction was led by partners Rhys Casey and Ian Paterson, senior associates Matt McKeown and Andrew Fei and solicitors Tamara Akl and Andrew Chong. Tax advice in relation to the offer was provided by partner David Wood and senior associate Frankie Barbour.

Commenting on the transaction, Rhys Casey said: "It has been a pleasure supporting Suncorp on this capital transaction, which has received good investor support off the back of Suncorp's strong FY21 financial results."

KWM is a leading adviser in hybrid securities and has a longstanding relationship with Suncorp.