Zurich completes its USD 3 billion credit facility
Zurich, April 22, 2004 - Zurich Financial Services Group (Zurich) has successfully completed its USD 3 billion syndicated revolving credit facility (split equally between 3 and 5 year tranches). Market interest for the facility was strong with all invited banks joining. Although the transaction was oversubscribed, the facility was not increased and the participating banks were scaled back accordingly.
The facility is for general corporate and backup liquidity purposes and replaces the Group's expiring USD 1.5 billion credit facility of May 1999.
