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QBE Insurance posts final tender offer results

QBE Insurance Group Ltd. accepted for purchase about US$176.4 million of notes, consisting of the $174.3 million of notes that were tendered by the early invitation deadline of March 8 and another $2.05 million of notes that were tendered by the invitation deadline of March 25, under the company's tender offer.

The notes tendered by the earlier deadline were purchased at a price of $1,015 per $1,000 principal amount of notes, while the $2.05 million of notes were purchased for a final purchase price of $1,000 per $1,000 principal amount of notes.

The settlement date of the purchase is March 28. After the settlement date, the company will redeem all outstanding notes for $1,000 per $1,000 principal amount of notes, along with the accrued and unpaid interest up to the redemption date, which is April 8.