Suncorp Bank prices A$750 million senior unsecured domestic debt transaction

14 April 2014

Suncorp Bank today announced it had priced a five-year senior unsecured debt transaction of A$750 million at three month BBSW + 110bps. 
The offering consisted of A$750 million floating rate bonds with a five-year maturity. 
The transaction was jointly led by National Australia Bank, Australian and New Zealand Banking Group, Commonwealth Bank of Australia and Westpac Banking Corporation. 
Suncorp Bank Chief Financial Officer Greg Bryant said this was Suncorp Bank's first domestic senior unsecured term transaction into the Australian market for 2014 and formed part of its ongoing funding program. 
“Suncorp Bank is in a strong position as an A+ rated bank allowing us to tap various markets when windows of opportunity open at the right price,” Mr Bryant said. 
“It enables us to adequately diversify our funding sources to support solid lending growth and ultimately enhances the security of our entire portfolio,” he said. 
“We’re pleased with the strong domestic uptake of this issue; one that combined with our other domestic and international funding deals, further lengthens our balance sheet and supports profitable growth for Suncorp Bank.” 
This deal attracted diverse investor interest following recent roadshows domestically and in Asia and is testament to the support we’re receiving of our story and our growth. 
“More than 75 investors participated in the transaction with an order book exceeding $1.2 billion. We were also pleased with the support shown from offshore accounts in Asia.” 


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Media Enquiries: Amy McDonald 07 3835 5580 or 0403 058 462. 

About Suncorp: 
Suncorp Group includes leading general insurance, banking, life insurance, superannuation and investment brands in Australia and New Zealand. The Group has around 16,000 employees and relationships with nine million customers. It is a Top 20 ASX listed company with over $93 billion in assets. Today Suncorp is Australia's leading regional bank, largest domestic general insurance group, and second largest in New Zealand and has representation in 450 offices, branches and agencies throughout Australia and New Zealand.