QBE prices US$300m fixed rate senior notes due 2023

AUSTRALIA-LISTED QBE Insurance Group on Thursday said it has successfully priced an issue of US$300 million fixed rate senior notes due 2023, to be issued under its US$4 billion medium term note programme.

The notes will include a term of 5 years and 8 months (maturing May 25, 2023) and bear 3 per cent per annum interest, payable semi-annually in arrears. They are expected to have rating of A- by Standard & Poor's.

The settlement and issue of the notes at US$200,000 each is scheduled for September 25, 2017, the insurer said in a filing to the Singapore Exchange.