On 20 March 2019, IAG announced a new A$ subordinated debt issue to wholesale investors. The same day, IAG that it had successfully priced $450 million of securities under the wholesale A$ subordinated debt offering. The securities were issued on 28 March 2019.
The subordinated debt qualifies as Tier 2 Capital under the Australian Prudential Regulation Authority’s (APRA) capital adequacy framework for general insurers.
