Suncorp to raise $250m in notes offer

Suncorp will offer capital notes to raise $250 million to fund its general insurance, banking, life insurance and wealth management businesses.

Suncorp is seeking to raise $250 million through a capital notes offer. (AAP)

Financial services conglomerate Suncorp is seeking to raise $250 million through a capital notes offer.

The company said the notes will be issued on May 5 with proceeds to be used to fund its general insurance, banking, life insurance and wealth management businesses.

Suncorp said the notes may be converted to shares, redeemed or resold subject to conditions from June 17, 2022, and any remaining notes will be automatically converted into ordinary shares on June 17, 2024.