Zurich picks seven years for second Swiss franc hybrid
Zurich Financial Services this week returned to the Swiss franc market for another hybrid bond issue, taking Sfr500m out of the market. The insurer said earlier this week that it would use hybrid debt to partly finance a $1.67bn acquisition of Santander’s Latin American insurance operations. However, a statement from the insurer denied that the two were related and said that the deal was for refinancing existing debt and general corporate purposes.
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