Vivat issues tier two to repay owner Anbang

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By Jasper Cox
09 Nov 2017

Vivat on Thursday became the latest insurer to issue tier two debt with a $575m bond, which will be used to pay off debt to Anbang Insurance Group.

Final terms were set at 6.25%, from guidance of 6.5% and initial price thoughts of mid to high 6%. The books closed at around $1.6bn.

The bond is perpetual, but can be called by the issuer after five years and at every fifth anniversary of the first call ...

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