New Floats – Suncorp Pref Shares Paying 11.2%.

 
When markets fall, like they have over the past 6 months, they are usually followed by some very good quality floats. Why? Because the markets will no longer support any suspect capital raisings. We have seen Wesfarmers come out with a rights issue at a 20% discount and now Suncorp with the Pref share. This is one to be in if you have a long term investment time frame and are looking for a secure high yielding investment.
 

Suncorp Converting Preference Share Offer

Suncorp is one of Australia’s top 25 companies and is Queensland’s biggest listed corporation with a market value of $13 billion. The Suncorp Group’s primary businesses are general insurance, banking and wealth management.

The proceeds from the CPS offer will be used to repay existing debt, finance new loans and for other general corporate purposes.

Investment in this opportunity will offer you:
•    Attractive fully franked yield
•    Exposure to one of Australia's top 25 companies
•    The security of an "A-" credit rating from Standard & Poor's
•    Quarterly floating dividend payments
•    Yield will be 3.2% above the bank bill rate, current this is 11.2%
•    Distributions will be fully franked.

This is a great investment for Self Managed Super Funds especially if they are in pension phase or for funds currently sitting in term deposits.

For more information click on the below link to take a look at the prospectus, if you are interested contact us to place an application. As senior Co-Managers to this float we can look to offer you some firm stock. Please call (07) 4771 4577.
 
Suncorp Convertible Preference Shares Offer (Click the link and you will be taken to the Suncorp website, where you will need to click on the Continue button. A new page will open in the suncorp site asking for your Sate and Postcode so you can then download the prospectus.)