QBE Insurance Group (ASX:QBE) has priced its combined AU$600 million subordinated notes issuance due 2036, according to a Thursday filing with the Australian bourse.
The AU$275 million floating rate subordinated notes bear an interest rate payable quarterly in arrears at a rate equal to the prevailing three-month bank bill swap rate (BBSW) plus a spread of 1.95% per annum, the filing stated.
The AU$325 million fixed-to-floating rate subordinated notes have an interest of 5.802% per annum payable semi-annually. After May 21, 2031, interest is payable quarterly in arrears at a floating rate equal to the prevailing three-month BBSW plus a spread of 1.95% per annum, the filing stated.
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