Zurich attracts strong demand on dollar sub debt return

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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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