QBE Insurance Group (ASX:QBE) said it will fully redeem its $524.1 million 5.875% subordinated notes due 2046 on June 17, paying investors the principal amount plus accrued interest, according to a Monday filing with the Australian bourse.
The redemption has been approved by the Australian Prudential Regulation Authority (APRA), per the filing.
The company clarified that this does not imply any intention to redeem other regulatory capital instruments, which would still require separate APRA approval, the filing added.
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