May 19 (Reuters) - QBE Insurance Group Ltd (QBE) :
- QBE prices exchange of GBP325 mln subordinated notes (QBE)
- Has accepted the offer and successfully priced the new notes
- Says QBE will exchange £291.0 million of existing notes for new notes.
- New notes will qualify as tier 2 capital under Australian prudential regulation authority's capital adequacy framework
- Notes will bear 6.115% per annum interest, payable semi-annually in arrear
- Says new notes for a term of 26 years
- Settlement and issue of £327.2 million of new notes at an issue price of £100,000 each is scheduled for 24 may 2016
- "Exchange price is 112.462 per cent"
News: QBE QBE Insurance Group announces pricing of notes
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