A $1.15bn (€1.3bn) convertible bond from Swiss Re, the reinsurance group, found huge demand among investors despite the company's share price tumbling 5.2% after Monday's plane crash in New York.

The stock fell as low as Sfr165 (€112) after an American Airlines plane crashed on the outskirts of New York, but then recovered to Sfr171.2 on Tuesday as the convertible bond sale opened.

Swiss Re convertible in demand despite share slump

Michael Hoare

Swiss Re

JP Morgan

Morgan Stanley

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