MSC Certane wins Suncorp mandateBY ELIZA BAVIN | TUESDAY, 23 APR 2024 11:49AMSuncorp Group has appointed Certane CT, a division of MSC Group, as trustee for its successful $360 million notes offer. The unsecured notes will be listed and tradeable on the Australian Securities Exchange (ASX) from 15 May 2024 (ASX: SUNPJ). As the trustee for the notes offer, MSC Group was appointed under the Corporations Act to act on behalf of holders to ensure the issuer can meet its obligations. MSC Group managing director Matthew Fletcher welcomed the opportunity to act as trustee for the latest Suncorp notes offer, representing its fifth issue with MSC Group appointed as trustee. "MSC Group has considerable experience in acting as trustee for debt securities. Our recent merger with Certane CT combines substantive corporate trust experience and capability. We currently act as trustee for over $5 billion in corporate notes, debentures and bonds," Fletcher said. "Our note services include acting as trustee for retail and wholesale note issues such as secured or unsecured notes, convertible notes and hybrids. Our book covers ASX-listed corporates and a number of private company issues." The notes are being issued as part of Suncorp's ongoing funding and capital management strategy. Suncorp is issuing the notes to raise Eligible Additional Tier 1 Capital, the proceeds of which will be used to fund the capital needs of the Suncorp Group and for general corporate and funding purposes. The MSC Group acquired Certane CT (formerly part of the Australian Executor Trustees business) on 12 January 2024. The group now manages $30 billion under appointment on behalf of more than 250 individual corporate clients and 530 individual service appointments. Related News |
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