Swiss Re issues pioneering new style subordinated perp

26 Jan 2012

Swiss Re has followed in the footsteps of Zürcher Kantonalbank by launching its debut new style subordinated perpetual convertible note on Thursday morning, a Sfr200m minimum 7.25% non-call five year.

The Swiss franc market continues to provide a platform for forward-looking capital trades, with domestic regulator FinMa’s regulations allowing banks and insurance companies to raise Basel III or Swiss Solvency Test compliant capital ahead of their peers.

Lead managers BNP Paribas, Credit Suisse, Deutsche Bank and UBS launched the ...

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