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.
Brightline Lands $350 Million Assured Loan in Case of Bankruptcy 
Florida Bans Flock Cameras, License Plate Readers From State Roads 
Federal Judge Cautions State Farm Against Gambling With Courts 
Global Insured Catastrophe Losses Expected to Average $171 Billion Annually: Verisk 
