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A&O Shearman guides joint lead managers on successful bond issuances

A&O Shearman guides joint lead managers on successful bond issuances
Published Date
Apr 10 2025
A&O Shearman has advised the joint lead managers on three separate subordinated bond issuances by Swiss Re under its USD10 billion Debt Issuance Programme.  

The details of the transactions include:

  • SGD450 million Guaranteed Subordinated Fixed Rate Reset Notes with a scheduled maturity in 2031, issued by Swiss Re Subordinated Finance Plc and guaranteed by Swiss Re Ltd on March 26, 2025;
  • EUR750m Guaranteed Subordinated Fixed Rate Reset Notes with a scheduled maturity in 2033, issued by Swiss Re Subordinated Finance Plc and guaranteed by Swiss Re Ltd on March 26, 2025; and
  • USD750m Guaranteed Subordinated Fixed-to-Floating Rate Notes with a scheduled maturity in 2046, issued by Swiss Re Subordinated Finance Plc and guaranteed by Swiss Re Ltd on April 1, 2025.

The transactions involved navigating different markets and currencies, with the USD transaction targeted at U.S. investors. 

Swiss Re, who are leading providers of reinsurance and insurance, are headquartered in Switzerland.

"These deals highlight our ability as a global firm to help issuers access distinct capital markets. We are delighted to have collaborated as an international team to support the joint lead managers in these transactions for Swiss Re."

Image of Tom Grant

Tom Grant

Partner

The A&O Shearman team was led by partners Tom Grant, Diana Billik, Aloysius Tan, and Agnes Tsang; senior associates Seungwook Koo and Jia Yan Low; and associates Georges Haddad, Mohammad Mehmood, Gordon Ng, and Nick Yap.

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