AMP raises A$296 million in sale of notes

The company raised A$202.7 million worth of Australian notes paying 7.88% and $115.5 million worth of New Zealand notes at 8.83%.

The 10-year notes have a five-year call option. The Australian notes begin trading today.

The company will use the money raised to meet ongoing funding requirements and refinance subordinated debt, chief executive Craig Dunn said in a statement last month.

The notes are unsecured subordinated debt obligations, ranking behind all other creditor claims, and were provisionally rated A- by Standard & Poor's and A3 by Moody's.

Shares in Australia's largest provider of pension plans last traded at $6.30.

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

OCA - Oceania Healthcare launches secured fixed rate bond offer
ATM - a2MC receives SAMR approval
June 22nd Morning Report
SPG - Retirement of Director Michelle Tierney
APL - AGM Date and Director Nominations
SKC - Resolution of Adelaide Independent Review
CMC Markets accredited as NZX Participant
June 18th Morning Report
PCT - Sale of PwC Tower to New Investment Partnership
MEL - Waitaki reconsenting receives final approval