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FINWIRES

Suncorp Group Inches Up After Pricing AU$200 Million Capital Notes Issue

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-- Suncorp Group (ASX:SUN) shares were marginally higher after the insurer said late Wednesday that it priced a AU$200 million issue of perpetual, noncumulative, convertible, unsecured, subordinated capital notes in an offering to institutional investors and other wholesale investors.

The margin was set at 235 basis points over the three-month bank bill swap rate and was determined under a bookbuild process.

The capital notes are expected to be issued on or around May 6, and no shareholder approval is needed for the issue.

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