IAG launches domestic tier-two deal

Wednesday, 20 March 2019

On 20 March, Insurance Australia Group (IAG) (A by S&P) launched a 26.25-year non-call 6.25-7.25-year tier-two domestic transaction with price guidance of 240-245 basis points area over bank bills. The forthcoming deal is expected to be rated BBB and to price the day after launch, via National Australia Bank and Westpac Institutional Bank.