Zurich attracts strong demand on dollar sub debt return

By Frank Jackman
12 Jan 2021

Zurich Insurance Company attracted plenty of demand in dollars on Tuesday, as it sold first subordinated dollar trade in over two years — a deal that could fund its acquisition of Metropolitan Life’s US property and casual business.

The Swiss based firm (A2/A) was marketing an April 2051 non-call April 2031 subordinated deal through Citi, Deutsche Bank, HSBC, Mizuho and UBS on Tuesday morning.

The syndicate started the pricing process with thoughts in the 3.375% area.

Fair value was spotted in ...

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