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Zurich Insurance places $1B undated subordinated bond

ZurichInsurance Group Ltd. completed the placement of $1 billion ofundated subordinated notes.

The notes, which carry a fixed coupon of 4.75%, are first callablein January 2022. The funds will be used for general corporate purposes.

The notes will be issued by to arepackaging vehicle, which will issue notes to investors secured by the undatedsubordinated notes.