| Zurich completes the successful issuance of CHF 525 million senior debt |
| 23.11.11 19:06 | |
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Zurich, November 23, 2011 - Zurich Financial Services Group (Zurich) today completed the successful issuance of CHF 525 million of 7-year senior notes, maturing in 2018. CHF 425 million were originally placed on October 25, 2011 and due to strong demand the transaction size was increased by CHF 100 million on November 11, 2011 for a total size of CHF 525 million. These notes have been issued by Zurich Insurance Company Ltd under its "Euro Medium Term Note Programme" and were placed to retail and institutional investors in the Swiss Franc domestic market. The coupon has been set at 2.375%. The successful placement of the notes reflects Zurich's name as well as its strong capital and solvency positions. The transaction has been conducted for general corporate purposes and to refinance senior debt. Zurich Financial Services Group (Zurich) is a leading multi-line insurance provider with a global network of subsidiaries and offices in Europe, North America, Latin America, Asia-Pacific and the Middle East as well as other markets. It offers a wide range of general insurance and life insurance products and services for individuals, small businesses, mid-sized and large companies as well as multinational corporations. Zurich employs about 60,000 people serving customers in more than 170 countries. Founded in 1872, the Group is headquartered in Zurich, Switzerland. Zurich Financial Services Ltd (ZURN) is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt program (ZFSVY), which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com. |
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