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The company confirmed that the issuance of 500 million francs of 5-year senior notes, maturing in 2013, and 300 million francs of 3-year and 60-day senior notes, maturing in 2011, to investors in the Swiss market has been completed and that all of the notes have been placed.
Both series of notes have been issued under Zurich Insurance Co.?s ?Euro Medium Term Note Program,? the notes due 2013 by Zurich Insurance Co. and the notes due 2011 by Zurich Finance (USA) Inc.
Zurich added that the coupons have been set at 3.75% for the notes due 2013 and 3.5% for the notes due 2011. The spreads over mid-swaps were 73 and 55 basis points. respectively.
(By Marc Jones, London news editor: marc.jones@ambest.com)
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