QBE Insurance Group Limited (AU:QBE) has released an update.
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QBE Insurance Group Limited has announced the pricing for a significant issuance under its Note Issuance Programme, comprising $400 million in Floating Rate Subordinated Notes due 2035 and $350 million in Fixed to Floating Rate Subordinated Notes due 2039. These notes are intended to qualify as Tier 2 Capital, enhancing QBE’s capital adequacy, with provisions for conversion into ordinary shares under specific conditions. Investors are advised that the possibility of early redemption is subject to regulatory approval, which should not be presumed.
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