Zurich Financial Services Group announced that it has exercised its option to early redeem $1 billion of subordinated debt.
The securities to be redeemed are described as follows “$600 million of Series I Fixed/Adjustable Rate Enhanced Capital Advantaged Preferred Securities (“ECAPS”) and $400 million of Series III Floating Rate ECAPS issued in December 2005 by ZFS Finance (USA) Trust I and ZFS Finance (USA) Trust III respectively will be redeemed at par together with accrued interest on 15th December 2010.
Source: Zurich Financial Services
Was this article valuable?
Here are more articles you may enjoy.
Security First the Latest in Florida to Announce Home Insurance Rate Cut 
PHLY Makes Largest Acquisition in Its History With Collector Car Business Expansion 
Catastrophe Bond Investors Told to Brace for Jamaica Payout 
AIG to Acquire Renewal Rights of Everest’s Retail Commercial Business Worth $2B 
