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QBE Insurance Group Announces Regarding Pricing in Relation to GBP400m of Fixed Rate Resetting Subordinated Notes Due 2038

06 Sep 2021  |  08:45:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: QBE Pricing - GBP400m Fixed Rate Subordinated Notes Due 2038

QBE Insurance Group announced that it has priced the issue of GBP400,000,000 of Fixed Rate Resetting Subordinated Notes (Subordinated Notes) under its US$4,000,000,000 Note Issuance Programme to wholesale investors. The Subordinated Notes will be eligible as Tier 2 Capital of the Company under the Australian Prudential Regulation Authority's (APRA) capital adequacy framework. Subordinated Notes are required to be converted into ordinary shares in the Company or written-off in whole or in part if APRA determines that the Company is or would become non-viable.

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