QBE tests appetite for first AT1 social bond

By Tyler Davies
09 Nov 2017

QBE was looking to sell a new additional tier one (AT1) within the terms of its gender equality bond framework on Thursday, becoming the first financial institution to market hybrid capital as a social bond.

Joint bookrunners Crédit Agricole, HSBC and Morgan Stanley opened pricing for the perpetual non-call eight year instrument in the 5.75% area. The leads had not set a guidance range when GlobalCapital published.

According to the terms of QBE’s gender equality bond framework, the Australian insurance ...

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