Helvetia Holding AG said March 30 that it issued a €500 million subordinated hybrid bond through unit Helvetia Swiss Insurance Co. Ltd.

The bond, which matures in 2047, has a fixed coupon of 3.375% until the first optional call date in September 2027.

UBS served as sole structuring adviser and served with BNP Paribas, Credit Suisse and Deutsche Bank as joint lead managers. Raiffeisen Schweiz served as co-manager.