Converium Holding Ltd. Announces Pricing of Subordinated Notes.Business Editors ZUG Zug (ts  k), canton (1993 pop. 87,100), 93 sq mi (241 sq km), N central Switzerland. , Switzerland--(BUSINESS WIRE)--Dec. 19, 2002 Converium Holding Ltd informs on pricing of US$200'000'000 of subordinated notes. Converium Holding Ltd reports that its finance company affiliate Converium Finance S.A. has priced US$200'000'000 of 30-year subordinated notes in an underwritten syndicated offering led by Merrill Lynch & Co. as sole bookrunner. Converium Holding Ltd and Converium Ltd, jointly and severally Jointly and Severally 1. A legal term describing a partnership in which individual decisions are bound to all parties involved and thus undivided. 2. A term used in underwriting syndicates to refer to the distinct responsibility of individual companies to sell a certain , will guarantee, on a subordinated basis, payments on the notes. The guaranteed subordinated notes due 2032 will be listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the ticker symbol CHF CHF In currencies, this is the abbreviation for the Swiss Franc. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. and traded in denominations of US$25. The notes are callable from 2007. The securities are expected to be rated Baa1/BBB+ by Moody's and Standard & Poor's, respectively, on the issuance date anticipated to be December 23, and carry a 8.25% coupon, payable quarterly. |
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