Zurich Insurance Group to redeem 450 million pounds of subordinated debt
ZURICH (Reuters) - Zurich Insurance Group said on Monday that it intends to exercise its option to redeem 450 million pounds ($515.93 million) of subordinated debt.
The 6.625% Undated Subordinated Notes, issued in 2003, are expected to be redeemed on Oct. 2 at par plus accrued interest.
($1 = 0.8722 pounds)
(Writing by Miranda Murray; Editing by Paul Carrel)