QBE Insurance To Issue AU$500 Million Perpetual Floating Rate Capital Notes
MT Newswires Live
Yesterday
QBE Insurance Group (ASX:QBE) will issue AU$500 million perpetual floating rate capital notes on Tuesday, intended to constitute regulatory capital of the issuer satisfying Australian Prudential Regulation Authority's (APRA) regulatory capital requirements for additional tier-1 capital, according to a same-day Australian bourse filing.
The notes will carry the aggregate of the bank bill swap rate plus margin, for an interest period.
The capital notes are convertible into ordinary shares of QBE, in certain circumstances.
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