QBE Insurance Group announcement

QBE Insurance Group Limited (ASX:QBE) has announced the pricing of AUD400 million Floating Rate Subordinated Notes due 2035 and AUD350 million Fixed to Floating Rate Subordinated Notes due 2039 under its Note Issuance Programme. The Subordinated Notes will be eligible as Tier 2 Capital of QBE under APRA's capital adequacy framework.

Executive commentary

The pricing of the Subordinated Notes reflects our commitment to maintaining a strong capital position and ensuring compliance with regulatory requirements. This issuance will further enhance our capital structure and support our strategic initiatives. We appreciate the continued support of our investors and look forward to the successful completion of this offering.

Summary of announcement

QBE Insurance Group Limited (ASX:QBE) has priced the issuance of AUD400 million Floating Rate Subordinated Notes due 2035 and AUD350 million Fixed to Floating Rate Subordinated Notes due 2039. The Subordinated Notes will contribute to QBE's Tier 2 Capital under APRA's framework and may be converted into ordinary shares if deemed necessary by APRA. The pricing of the Subordinated Notes demonstrates QBE's commitment to maintaining a robust capital position and complying with regulatory standards. This offering is expected to strengthen QBE's capital structure and support its strategic objectives. The company looks forward to the successful completion of this issuance and the positive impact it will have on its capital base and long-term goals.