HomeAboutInsightInvestorsMediaCareers 
News releases
2009 news releases
2008 news releases
2007 news releases
2006 news releases
2005 news releases
2004 news releases
2003 news releases
2002 news releases
2001 news releases
2000 news releases
1999 news releases
1998 news releases
Resources and contacts
Events
 
 
Media - woman talking into a microphone

Zurich completes issuance of senior debt

Zurich, September 17, 2004 – Zurich Financial Services Group (Zurich) today completed the issuance of EUR 1 billion of 10-year senior debt in the Euro market. The transaction has met with a very positive investor response and was more than three times oversubscribed. The proceeds will be used for refinancing and for general corporate purposes.

The debt has been issued by Zurich Finance (USA) Inc, under Zurich Insurance Company’s "Euro Medium Term Note Programme." The coupon has been set at 4.5%, which equated to a spread of 0.38% over mid-swaps and 0.497% over the reference government bond.

Patrick O’Sullivan, Group Finance Director of Zurich Financial Services, said: "We are pleased with the success of this transaction. The strong investor demand and the competitive pricing achieved confirm the regained financial standing of Zurich Financial Services."

Zurich Financial Services is an insurance-based financial services provider with a global network that focuses its activities on its key markets in North America and Europe. Founded in 1872, Zurich is headquartered in Zurich, Switzerland. Zurich has offices in more than 50 countries and employs about 62,000 people.

For further information please contact:
Zurich Financial Services, Media and Public Relations

8022 Zurich, Switzerland

Phone +41 (0)1 625 21 00, Fax +41 (0)1 625 26 41

http://www.zurich.com

SWX Swiss Exchange/virt-x: ZURN

 

THIS PRESS RELEASE IS NOT BEING ISSUED IN AUSTRALIA, CANADA AND JAPAN. THIS DOCUMENT DOES NOT CONSTITUTE AN OFFER OR INVITATION TO SUBSCRIBE FOR OR PURCHASE ANY OF THE SECURITIES REFERRED TO HEREIN. IN ADDITION, THE SECURITIES REFERRED TO HEREIN HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD OR DELIVERED WITHIN THE UNITED STATES OR TO U.S. PERSONS ABSENT REGISTRATION UNDER OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE UNITED STATES SECURITIES LAWS.

THIS PRESS RELEASE IS DIRECTED ONLY AT PERSONS WHO (I) ARE OUTSIDE THE UNITED KINGDOM OR (II) HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS OR (III) ARE PERSONS FALLING WITHIN ARTICLE 49(2)(A) TO (D)("HIGH NET WORTH COMPANIES, UNINCORPORATED ASSOCIATIONS ETC") OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2001 (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS "RELEVANT PERSONS"). THIS PRESS RELEASE MUST NOT BE ACTED ON OR RELIED ON BY PERSONS WHO ARE NOT RELEVANT PERSONS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS COMMUNICATION RELATES IS AVAILABLE ONLY TO RELEVANT PERSONS AND WILL BE ENGAGED IN ONLY WITH RELEVANT PERSONS.

STABILISATION / FSA.