Staff Reporter
Suncorp Bank has ramped up its funding capabilities with the launch of a $1.6 billion covered bond.
The non-major had initially launched a $750 million 4.5 year fixed rate covered bond, however strong demand from European, Asian and local debt investors caused the increase.
The bank said it sold a fixed rate bond, with a term of 4.5 years, at 140 basis points over mid-swaps. It also issued a A$500 million floating-rate tranche with a 2.5 year term at 105 basis points over the bank bill swap rate.
Barclays, Deutsche Bank AG, RBC Capital Markets and UBS have been mandated as Joint Lead Managers.
Want to see more stories from trusted news sources?
Make The Adviser a preferred news source on Google.
Click here to add The Adviser as a preferred news source.
