Zurich announces the successful placement of EUR 500 million senior debt

Zurich Insurance Group (Zurich) today announced the successful placement of EUR 500 million of senior unsecured notes (the “Notes”).

The Notes will be issued by Zurich Insurance Company Ltd under its “Euro Medium Term Note Programme” to Cloverie Public Limited Company (the repackaging vehicle). The repackaging vehicle in turn issues notes to investors that are secured by the Notes.

The Notes will mature in September 2024. The annual coupon is fixed at 1.75%. The transaction was primarily targeted at European institutional investors and has been conducted to refinance maturing senior debt.