Swiss insurer Helvetia places first green hybrid bond

Swiss insurer Helvetia has issued a first green bond worth CHF 200 million ($218.5 million) as part of its sustainability strategy.

The subordinated bond has been placed via its subsidiary Helvetia Swiss Insurance Company and is unlimited.

The first optional redemption date is in May 2028. Until the first redemption date, the coupon is 1.75 percent.

Helvetia said the funds will be mainly used to develop the company's real estate portfolio while taking sustainability criteria into account, in addition to investing renewable energies and environmentally friendly mobility, either directly or indirectly.

"With our corporate responsibility strategy we specifically take account of environmental, social and governance aspects in our daily business activities. The green hybrid bond is a further step in the implementation of this approach," said Annelis Lüscher Hämmerli, CFO of Helvetia.