Swiss Re convertible in demand despite share slump

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.

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