A disaster-proof construction for IAG
December 01, 2004
(Last updated: November 26, 2008)
The well-earned reputation for Australian investment-banking innovation earned another star in November, when Insurance Australia Group raised A$500 million (US$374.7 million) through an innovative hybrid securities issue. The notes can instantaneously become Tier 1 capital securities if IAG breaks the glass' in the event of an emergency. Mark B. Johnson reports.
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