Helvetia takes to senior market to finance acquisition

By Nathan Collins
22 Oct 2014

Switzerland’s Helvetia Insurance returned to the bond market on Tuesday to sell a dual tranche Swiss franc deal, its second foray into the market this month. The senior debt will be used to help finance its recent takeover of rival insurer Nationale Suisse.

Bank Vontobel, Raiffeisen Schweiz and UBS priced the Sfr225m ($236m) six year tranche at 48bp over mid-swaps, in line with guidance of 48bp area.

The leads also sold a Sfr150m long 10 year bond at 70bp over mid-swaps, in line with guidance of 70bp area.

"It's been a volatile ...

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