Swiss Life €600 million undated subordinated bond issue

Overview:

• Swiss Life, the largest insurance company in Switzerland, has issued €600 million in hybrid bonds.
• The bonds are undated and callable first  in May 2027 with a coupon at 4.5% until the first call date.
• The proceeds will be used for general corporate purposes, including future refinancing of outstanding subordinated debt instruments. 
• Banca IMI, Citigroup, JPMorgan and UBS acted as joint lead managers in the transaction.

Anna Kozakova - Journalist