Publiziert in: Marktpuls, Unternehmen
Frei
Zurich announces the successful closing of the placement of CHF 225 million undated subordinated debt Donnerstag, 03. März 2016 - 00:00
Zurich announces the successful closing of the placement of CHF 225 million undated subordinated debt
Zurich, March 03, 2016
Zurich Insurance Group (Zurich) today announced the successful closing of the placement of CHF 225 million of undated subordinated notes (the “Notes”), first callable in June 2021.
The closing took place on March 2, 2016. The transaction closed CHF 25 million above the initial expectation communicated on February 18, 2016 at unchanged conditions.
The coupon of 2.75 percent per annum is fixed until June 2021. Thereafter the coupon will reset every 5 years based on the then prevailing 5-year swap rate plus a margin of 3.323 percent per annum.
The Notes were issued by Zurich Insurance Company Ltd under its "Euro Medium Term Note Programme" and were placed to retail and institutional investors in the Swiss Franc domestic market.
The transaction has been conducted for refinancing purposes.
The coupon of 2.75 percent per annum is fixed until June 2021. Thereafter the coupon will reset every 5 years based on the then prevailing 5-year swap rate plus a margin of 3.323 percent per annum.
The Notes were issued by Zurich Insurance Company Ltd under its "Euro Medium Term Note Programme" and were placed to retail and institutional investors in the Swiss Franc domestic market.
The transaction has been conducted for refinancing purposes.
