Briefs: Laybuy shareholders vote to delist, Suncorp prices subordinated notes
Laybuy shareholders have voted in support of a proposal to remove the company from the official list of the Australian Securities Exchange. The loss-making buy now pay later company announced plans to delist last month, citing the low price of the shares, low liquidity, its inability to raise capital and high costs associated with listing. The last day of trading will be March 23.
Suncorp has priced a A$250 million issue of floating rate, unsecured subordinated notes, which were offered to institutional and wholesale investors. The company will pay a margin of 265 basis points over the three-month bank bill swap rate. The notes, which qualify as tier 2 capital, mature in December 2038, with an option to redeem in December 2028.