FIG

摘要

QBE insurance group has received valid tenders of US$365.149m, or 67.79% of its outstanding US$538.608m legacy 7.25% May 24 2041 non-call 2021 144A/Reg S Tier 2 notes, to exchange for a new Basel Ill-compliant 7.25% 27-year non-call seven 144A/Reg S T2 note. Australia's biggest insurer, in terms of premium income, had planned to issue at least US$300m of the new subordinated notes, and was ready to offer some for sale if the amount of old notes tendered for exchange was below US$300m.