Suncorp prices 15.75NC5.75 tier-two deal

Wednesday, 22 February 2023

Updated

Issuer name: Suncorp Group
Issuer rating: A+/A2/A+
Issue rating: BBB+ (S&P)
Pricing date: 22 February 2023
Settlement date: 1 March 2023
Maturity date: 1 December 2038
Arranger: Barrenjoey
Lead managers: Barrenjoey, Citi, UBS, Westpac Institutional Bank

Transaction type: tier-two subordinated notes
Volume: A$250 million (US$170 million)
Total outstanding in the line: A$250 million
Coupon type: FRN
Coupon rate: 3mBBSW +265bp
Issue/re-offer price: par
Margin: 265bp/3mBBSW