QBE Prices AUD45 Million Subordinated Notes Offering

QBE Insurance Group Limited (AU:QBE) has released an update.

QBE Insurance Group Limited has announced the pricing of a private placement worth AUD45 million in Fixed to Floating Rate Subordinated Notes due 2039, which will count as Tier 2 Capital under APRA’s standards. These notes, maturing in 2039, are callable after 10 years subject to regulatory approval, and offer a fixed interest rate of 6.305% until 2034, switching to a floating rate thereafter. The offering is part of the company’s Note Issuance Programme and is intended to bolster QBE’s capital structure.

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