February 21, 2013 / 9:42 AM / 4 years ago

Swiss Re plans investor meetings ahead of possible CoCo bond

LONDON, Feb 21 (IFR) - Reinsurer Swiss Re will hold a series of investor meetings ahead of possible issuance of contingent capital, a banker said on Thursday.

The company, rated A1/AA-, has mandated Bank of America Merrill Lynch, BNP Paribas, Credit Suisse, HSBC and RBS to organise the roadshow, ahead of the possible Reg S offering.

The popularity of issuing contingent capital, or CoCos, has picked up in recent months with several banks including KBC, Barclays and UBS taking advantage of strong investor demand for the product. (Reporting By Josie Cox; editing by Alex Chambers)

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