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Suncorp Bank prices upsized A$1.25 billion RMBS issue

26 February 2015

Suncorp Bank today confirmed it had finalised pricing for the A$1.25 billion APOLLO Series 2015-1 Trust transaction which was upsized from A$750 million following its launch on 23 February 2015.

The upsize in value to A$1.25 billion is reflective of robust investor demand for the APOLLO programme.

33 investors from Singapore, Tokyo, London and domestic markets participated in the transaction.

All five classes of notes were offered to the market and were priced as follows:

Note

Amount

Price

Class A

Notes A$1,150,000,000

BBSW +90

Class AB

Notes A$62,500,000

BBSW +175

Class B1

Notes A$30,000,000

BBSW +230

Class B2

Notes A$4,875,000

BBSW +310

Class B3

Notes A$2,625,000

BBSW +500

Suncorp Bank CEO, John Nesbitt, said this transaction demonstrated Suncorp Bank's strong position in the market and ability to access diversified onshore and offshore funding markets.

"This is the 20th APOLLO transaction since 1999 and it forms an important part of our diversified funding program which supports the strength of the balance sheet and profitable growth," he said.

"It is also reflective of the quality of Suncorp Bank residential mortgage backed securities and the value placed upon the APOLLO programme by investors."

Macquarie Bank, ANZ, Deutsche Bank and Westpac were Joint Lead Managers.

Media Contact: Ashleigh Paterson 07 3135 2562 or 0407 925 665

About Suncorp: Suncorp Group includes leading general insurance, banking, life insurance and superannuation brands in Australia and New Zealand. The Group has 14,500 employees and relationships with nine million customers. Suncorp Group Limited is a Top 20 ASX-listed company with $94 billion in assets. Suncorp Bank is Australia’s leading regional bank servicing more than one million personal, SME and agribusiness customers.

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