Swiss Re Issues USD 750,000,000 Perpetual Subordinated Capital Instruments with Stock Settlement

 

25.04.2012

 

Based on the issuance of USD 750,000,000 Perpetual Subordinated Capital Instruments with Stock Settlement by Swiss Reinsurance Company Ltd, an international placement of USD 750,000,000 Perpetual Limited Recourse Secured Notes issued by the repackaging vehicle Aquarius + Investments plc was completed. The instruments provide for a stock settlement, at market at any time or at a floor price if the minimum solvency margin of Swiss Reinsurance Company Ltd has been breached, into shares of Swiss Re Ltd. BNP Paribas, Deutsche Bank AG, London Branch, HSBC Bank plc, J.P. Morgan Securities Ltd. and Merrill Lynch International acted as joint lead managers.

 

Bär & Karrer acted as legal advisor to Swiss Re. The team comprised Thomas U. Reutter, Roland Truffer, Daniel Raun and Claudio Bazzi.

 

 

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