IAG insurance australia group limited
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  1. FNN News
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    07/11/11
    11:45
    Post #: 9248931
    .

    Insurance Australia Group Limited (ASX:IAG) has confirmed that it will offer around $115.7 million of unsecured subordinated bonds to the New Zealand public.



    The insurer says the bonds will have a maturity of 25 years and be callable at IAG's discretion from December 2016 and on each interest payment date thereafter.



    IAG plans to use the proceeds for general corporate purposes and for flexibility in managing future refinancing requirements



    Last month IAG confirmed its full year guidance following encouraging growth in the first quarter of fiscal 2012.



    In fiscal 2011 IAG posted a net profit of $338 million.

    IAG Price at posting: $3.13 Sentiment: None Disclosure: Held
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