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Insurance Australia Group to raise A$300M in debt
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2018 US Property Casualty Insurance Market Report
Fintech Funding Flows To Insurtech In February
Insurance Australia Group Ltd. plans to raise at least A$300 million from an offer of subordinated debt.
The proposed floating-rate, medium-term notes will mature in June 2044, subject to rights of conversion or redemption, according to a March 22 release. Proceeds raised from the issuance are expected to qualify as Tier 2 capital,
IAG expects to price the offer by March 23.
JP Morgan Australia Ltd. and Westpac Banking Corp. are acting as joint lead managers.