QBE Announces Redemption of A$500M Subordinated Notes
Key points
- QBE to redeem A$500M Floating Rate Subordinated Notes due 2036
- Redemption date set for 25 August 2026
- Approval from APRA already obtained
- Redemption does not imply future actions on other instruments
Full summary
QBE Insurance Group Limited announced the redemption of its A$500,000,000 Floating Rate Subordinated Notes due 2036, issued in 2020. The redemption, set for 25 August 2026, includes the principal amount plus accrued and unpaid interest. The Australian Prudential Regulation Authority (APRA) has approved this redemption. Importantly, this action does not indicate any future plans to redeem other regulatory capital instruments, which would also require APRA's approval.
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