King & Wood Mallesons (KWM) has advised Suncorp Group Limited (Suncorp) on its latest offer of Capital Notes 5 to raise $360 million.
The offer included a reinvestment offer to eligible holders of Suncorp Capital Notes 2 to reinvest their capital into Capital Notes 5.
Suncorp issued Capital Notes 5 to raise Additional Tier 1 Capital as part of its ongoing funding and capital management strategy. The proceeds of Capital Notes 5 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, special counsel Matt McKeown, senior associate Kathryn Tomasic and solicitors Shannon O’Brien, Damon Scurria and Vanessa Hang. Tax advice in relation to the offer was provided by partner David Wood and senior associate Frankie Wickens.
Commenting on the transaction, Rhys Casey said: “It has been a pleasure supporting Suncorp on this capital transaction, which has received strong investor support.”
Matt McKeown added: “We are delighted to have supported Suncorp on another significant transaction in the capital markets.”
