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AMP closes A$275M capital notes offering

AMP Ltd. raised a total of A$275 million through its offering of capital notes 2.

The company issued 2,750,000 capital notes at A$100 each. In late November, AMP upsized its capital notes offer to at least A$250 million from A$200 million after bookbuilding.

AMP noted that the proceeds will strengthen the group's capital base and meet general funding requirements.

The notes are expected to start trading on a deferred settlement basis on the ASX under the code AMPPB on Dec. 24. Trading on a normal settlement basis is expected to begin Dec. 31.