trending Market Intelligence /marketintelligence/en/news-insights/trending/URLrhHmDhvrQNyZYFXuQDw2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

IAG may issue NZ$250M of subordinated notes

Infrastructure Issues: Tools to Dig Deep on Potential Risks

Part Two IFRS 9 Blog Series: The Need to Upgrade Analytical Tools

2018 US Property Casualty Insurance Market Report


Fintech Funding Flows To Insurtech In February

IAG may issue NZ$250M of subordinated notes

InsuranceAustralia Group Ltd. is considering issuing NZ$250 million worth ofunsecured subordinated convertible notes to institutional and retail investorsin New Zealand.

The potential offering will also include an option to acceptup to NZ$100 million in oversubscriptions at the company's discretion.

The offering is expected to open in mid-May.

The notes are expected to have a final maturity date in June2043. In certain cases, IAG may redeem them between June 2022 and June 2023.

The company has appointed ANZ and Forsyth Barr as joint leadmanagers, and BNZ, Deutsche Craigs, Macquarie Capital (New Zealand) Ltd. andWestpac Banking Corp as co-managers for the offer.

As of April 29, US$1was equivalent to NZ$1.43.