Area: Banking & finance

Value:Undisclosed

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Key players: The King & Wood Mallesons team was led by banking and finance partner Ian Paterson (pictured) and M&A partner Evie Bruce, who were supported by senior associate Jonathan Grant, solicitors Anna Lau, Andrew McDonald, Tom Morgan, Victoria Ngomba and Emily Zhang, and legal adviser Simon Curtis

Deal significance: The offer represents the first Tier 2 regulatory capital issuance by an Australian financial institution since the new Basel III capital requirements came into effect in January this year. Lead KWM partner Ian Paterson said: “We are delighted to support our client on this strategic transaction, which sets the precedent for further Tier 2 regulatory capital offerings in the Australian debt market this year.” The transaction is the second offer of a capital security by Suncorp in the past 12 months on which King & Wood Mallesons has advised. In September 2012, the firm advised Suncorp on its $560 million raising of convertible preference shares.