King & Wood Mallesons (KWM) advised Suncorp Group Limited (Suncorp) on its latest Capital Notes offer, which has raised AU$300 million under the broker firm and institutional components of the offer following a successful bookbuild process.
Suncorp is issuing Capital Notes 2 to raise Eligible Additional Tier 1 Capital, which will 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's convertible preference shares (CPS2) issued in 2012 through a reinvestment offer.
The KWM team was led by Partners Evie Bruce, Ian Paterson and Rhys Casey, with support from Senior Associate Andrew Fei and Solicitors Luke Mulcahy and John Arthur.
Rhys Casey said: "This is the second of two Additional Tier 1 Capital raisings in which we have supported Suncorp this year, and we are proud to advise Suncorp on this strategic transaction which is a key part of the group's ongoing funding and capital management strategy."
