King & Wood Mallesons (KWM) has advised Suncorp Group Limited (Suncorp) on the issue of its wholesale, floating rate, unsecured, subordinated notes 4 which raised A$250 million from institutional and wholesale investors.
The wholesale subordinated notes are being issued as part of Suncorp’s ongoing funding and capital management strategy, the proceeds of which are expected to be used to fund Tier 2 Capital of one or more regulated entities within the Suncorp group and for general funding purposes.
The KWM team was led by partners Ian Paterson and Rhys Casey, who were supported by senior associates, Matt McKeown and Kathryn Tomasic and solicitors Andrew Chong and Shannon O’Brien. David Wood and Frankie Barbour provided tax advice on the deal.
Commenting on the transaction, Rhys Casey said: “Our team is proud to have supported Suncorp on this Tier 2 transaction, which included some innovative design features.”
KWM is a leading advisor in hybrid securities and has a proud, longstanding relationship with Suncorp.
