Suncorp will raise the maximum amount of $700 million under its planned sale of converting preference shares, and has set the interest margin at the bottom end of the range,
Reuters reported.
The financier set the margin of its tier one Capital issue at 320 basis points over the swap rate.
National Australia Bank, meanwhile, priced $1.6 billion of five-year bonds at 108 basis points over swap,
Reuters separately reported.
The issue consisted of $1.1 billion of fixed rate notes and $500 million of floating rate notes