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FINWIRES

QBE Insurance Group to Redeem AU$500 Million Subordinated Notes

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QBE Insurance Group (ASX:QBE) said that it will fully redeem its AU$500 million floating rate subordinated notes due 2036 on Aug. 25, according to a Monday Australian bourse filing.

Noteholders will receive repayment of the principal amount together with any accrued and unpaid interest, per the filing.

The company said that the redemption has been approved by the Australian Prudential Regulation Authority, while emphasizing that the move does not indicate plans to redeem its other outstanding regulatory capital instruments, the filing added.

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