Zurich redeems £450m of subordinated debt

Written by Adam Cadle

05/09/2022

Zurich intends to exercise its option to redeem £450m of subordinated debt.

The £450m 6.625% undated subordinated notes, issued by Zurich Finance (UK) plc in 2003, are expected to be redeemed on 2 October 2022 at par plus accrued interest.

Reflecting its purpose to ‘create a brighter future together’, Zurich aspires to be one of the most responsible and impactful businesses in the world. It is targeting net-zero emissions by 2050 and has the highest-possible ESG rating from MSCI. In 2020, Zurich launched the Zurich Forest project to support reforestation and biodiversity restoration in Brazil.

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