IAG insurance australia group limited
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News: IAG Insurance Australia Announces Wholesale Subordinated Debt Issue

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    01/11/23
    11:45
    Post #: 70663714

    Nov 1 (Reuters) - Insurance Australia Group Ltd (IAG) :

    • ANNOUNCES WHOLESALE SUBORDINATED DEBT ISSUE
    • TO OFFER A NEW A$ SUBORDINATED DEBT ISSUE TO WHOLESALE INVESTORS
    • IS SEEKING TO RAISE SUBORDINATED DEBT WHICH IS EXPECTED TO QUALIFY AS TIER 2 CAPITAL UNDER APRA CAPITAL ADEQUACY FRAMEWORK
    • SECURITIES TO HAVE A NOTIONAL FACE VALUE OF A$10,000 PER SECURITY, WITH A MINIMUM SUBSCRIPTION AMOUNT OF A$500,000
    • PROPOSED ISSUE INCLUDES FLOATING RATE ISSUE WITH LEGAL MATURITY IN DEC 2038
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