QBE Insurance Group (ASX:QBE) will redeem the $700 million fixed-rate subordinated notes due 2044 on Dec. 2, according to a Friday filing with the Australian bourse.

The notes were issued in 2014 and bear an interest rate of 6.75%, the filing stated. They will be paid in whole for cash for their principal amount plus accrued and unpaid interest.

QBE Insurance's shares were down past 1% in recent trade.

Price (AUD): $18.23, Change: $-0.24, Percent Change: -1.33%