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Published on 3/26/2024 in the Prospect News Investment Grade Daily.

Swiss Re plans benchmark offering of 11-year subordinated notes

Chicago, March 26 – Swiss Re Subordinated Finance plc is planning to sell a dollar-denominated offering of 11-year subordinated notes (A3/BBB+), according to a market source.

A guarantee on a subordinated basis will be provided by Swiss Re Ltd. (A2/A).

The notes will have 10 years of call protection.

BofA Securities, BNP Paribas, Citi, Deutsche Bank Securities, and J.P. Morgan are joint lead managers for the Rule 144A and Regulation S deal.

Fixed-income calls started Tuesday.

The Swiss Re group is a reinsurance company based in Zurich.


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