AMP says could issue up to A$500 mln in sub debt

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SYDNEY, Aug 28 (Reuters) - AMP Ltd (AMP.AX), Australia's
third-biggest retail fund manager, could issue up to A$500
million ($428.8 million) in subordinated debt, it said on
Thursday.

AMP said it was considering raising subordinated debt,
partly to refinance A$267 million in subordinated paper coming
due in 2009 and to increase balance sheet flexibility.

"We have not decided on the amount or on the exact timing,"
AMP's CEO Craig Dunn said at a presentation.

See [ID:nSYD107593] for more.
($1=1.16 Australian Dollar)
(Reporting by Cecile Lefort)