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CORRECTED - CORRECTED-Challenger sells A$400 mln 30-year sub debt issue

Thu Oct 25, 2007 8:14pm EDT

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 (Corrects headline and lead to A$400 mln, not US$400 mln)
 SYDNEY, Oct 26 (Reuters) - Australia's Challenger Financial
Services Group Ltd (CGF.AX) said on Friday it has closed a
A$400 million ($364 million) 30-year subordinated issue in the
U.S. private placement market.
 It was issued by Challenger Life No.2 and denominated in
Australian dollars.
 The notes cannot be called for 10 years and are expected to
be rated BBB+ by S&P, two notches below Challenger's financial
strength rating.
 ($1=A$1.10)

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