Zurich Insurance prints Sfr400m high flyer
With the eurozone crisis raging around it, Zurich Insurance tapped into Swiss investors’ strong bias for domestic paper this week to price a chunky Sfr400m ($417.3m) 1.5% seven year — the first senior unsecured note out of this asset class in 2012.
Swiss Re is the only other insurance company that has tapped the Swiss franc market this year, with a debut new-style subordinated perpetual convertible note that was priced at the end of January a Sfr320m 7.25% non-call five year.
Although Zurich Insurance flooded the Swiss franc market with
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