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Swiss Re Treasury Completes Notes Offering
- Client News
- December 6, 2012
Practices
Swiss Re Treasury (US) Corporation, a subsidiary of Swiss Reinsurance Company Ltd, completed an offering of $250 million 2.875% senior notes due 2022 and $500 million 4.250% senior notes due 2042. The offering was Swiss Re's first in the Rule 144A market since 2006. Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC and RBC Capital Markets, LLC acted as joint bookrunning managers.
The Paul, Weiss London office has now advised Swiss Re on four offerings raising total proceeds of approximately $2.5 billion this year, following offerings of CHF 320 million and $750 million of perpetual subordinated notes in February and March, respectively, and an offering in July of €500 million subordinated loan notes with a scheduled maturity in 2042.
The Paul, Weiss team advising Swiss Re included London-based partner Mark Bergman. Tax assistance was provided by partner Jeffrey Samuels.