QBE Insurance Group (ASX:QBE) is set to issue 500 million euros of subordinated notes on Wednesday under its $5.5 billion debt issuance program, according to a same-day filing with the Australian bourse.
The notes are intended to qualify as Tier 2 capital, and are convertible into ordinary shares of QBE under certain conditions.
The company said the issuance will not have a material impact on its financial position.
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