QBE Insurance Group Limited Announced USD 500,000,000 of Capital Notes

  • May 06, 2020 AEST
  • Team Kalkine

QBE Insurance Group Limited (ASX:QBE) notified the market that it has valued the issuance of USD 500,000,000 of Capital Notes (Perpetual Fixed Rate Resetting).

Under the capital adequacy framework of APRA, the Capital Notes will be eligible as QBE’s Additional Tier 1 Capital.

For the period until the first reset date, the interest rate is 5.875 per cent per annum. 

Capital Notes are callable at the Company’s option on 12 May 2025 and at every five years afterwards.

 


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