Macquarie Group (ASX:MQG) Macquarie Bank issued AU$1.25 billion of subordinated notes under its AU$10 billion subordinated tier 2 debt instrument program, according to a Thursday filing with the Australian bourse.

The issue comprises AU$750 million in subordinated fixed-to-floating rate debt instruments due May 29, 2040, and AU$500 million in subordinated floating rate debt instruments due Nov. 29, 2035, the filing said.

Both are convertible into ordinary shares of Macquarie Group if a non-viability event occurs.

The notes will qualify as Tier 2 capital, the filing added.