On 11 November, Suncorp Group (Suncorp) announced an indicative A$250 million (US$171.5 million), additional tier-one (AT1) capital deal, Capital Notes 3. The notes are perpetual and have an optional conversion date on 17 June 2026 and mandatory conversion on 17 June 2028. The deal is being marketed at 300-320 basis points over three-month bank bills, with the final margin and interest rate expected to be determined on 18 November following a bookbuild.
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