May 4 (Reuters) - QBE Insurance Group Ltd QBE.AX :
* Exchange offer GBP325M fixed rate subordinated notes QBE.AX
* Launched an invitation to holders of existing notes to tender their notes in exchange for new gbp-denominated subordinated notes due 2042
* New gbp-denominated subordinated notes due 2042 to be issued by QBE under its recently established u.s.$4 billion medium term note programme
* Offer will expire at 5:00pm London time on 17 may 2016, unless extended, re-opened or terminated by QBE
* Source text for Eikon ID:nASX27JdzX
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