Further, the litmus test is post the CPS2 "reinvestment offer"; residual notes will remain at 4.65% until and if SUN "convert, redeem or resell". Another sleight of hand will affect their credibility and share price but as usual individual investors will be inundated by the tsunami of institutional book builders. I agree "smaller bank" is key and if they meet their CN2 target residual CPS2 holders may possibly continue to mandatory exchange?
I acknowledge your 3.65% as the "book build" margin being the lower figure of the range is the standard.
News: SUN Suncorp Group announces launch of Capital Notes 2, page-6
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Last
$17.81 |
Change
0.370(2.12%) |
Mkt cap ! $22.65B | |||
| Open | High | Low | Value | Volume |
| $17.60 | $17.83 | $17.57 | $39.40M | 2.217M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 42314 | $17.80 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $17.84 | 730 | 1 |
View Market Depth
| Last trade - 16.10pm 31/07/2024 (20 minute delay) ? |
| SUN (ASX) Chart |