Swiss Life €600 million undated subordinated bond issue

15/9/2016
Convertible and hybrid securities, Investment grade bond/note issue

€ 600 million

$ 670.351 million

Completed

15/9/2016


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

Jurisdictions:

Netherlands
Switzerland
United Kingdom

Deal types:

Convertible and hybrid securities
Investment grade bond/note issue

Practice area:

Capital markets : Debt

Industry sector:

Insurance


Firms:

Party: Banca IMI (Lead manager)

Party: Citigroup (Lead manager)

Party: UBS (Lead manager)

Party: JPMorgan Chase (Lead manager)

Lawyer: Stephen Miller


Party: Banca IMI (Lead manager)

Party: Citigroup (Lead manager)

Party: UBS (Lead manager)

Party: JPMorgan Chase (Lead manager)

Lawyer: David Roylance


Party: Swiss Life (Issuer)