Challenger in capital raising
Challenger this week launched a notes issue on the Australian Securities Exchange (ASX) with the intention of raising $250 million to fund the future growth of its annuities business.
The capital raising was announced by Challenger chief executive, Brian Benari who said the move would help fund growth of the annuities business as well as providing capital flexibility.
He said the issue of the Challenger Capital Notes had been flagged in the company’s results announcement to the ASX last week.
UBS has been appointed as Structuring Adviser and Joint Lead Manager for the issue while J.P. Morgan, National Australia Bank and Westpac Institutional Bank have been appointed as Joint Lead Managers.
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