Helvetia Schweizerische Versicherungsgesellschaft AG (Helvetia) successfully issued a Senior-Bond of CHF 375 million today. The Senior Bond was issued in two tranches. The first tranche, a 6 year bond of CHF 225 million, has an annual coupon of 0.75 per cent, with maturity on October 28, 2020. The second tranche, a 10.5 year bond with a volume of CHF 150 million, has an annual coupon of 1.5 per cent, with maturity on April 28, 2025. Both tranches are guaranteed by Helvetia Holding AG. The proceeds will be used to complete the financing of the take-over of Nationale Suisse.
The bonds are expected to be listed on SIX Swiss Exchange. Standard & Poor's is expected to assign an 'A-'rating with Credit Watch Negative, derived from the rating of Helvetia ('A' / Credit Watch Negative).
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