QBE Insurance Group (ASX:QBE) plans to offer US dollar-denominated fixed rate resetting subordinated notes under its notes issuance program, according to a Thursday filing with the Australian bourse.
The insurance and reinsurance solutions provider will use the proceeds to fund tier 2 capital. The company will release the price and terms of the subordinated notes once it proceeds with the offering.
The company's shares were down nearly 1% in recent Thursday trade.
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