BFCM goes long with Swissie
Banque Fédérative du Crédit Mutuel tapped the Swiss market on Friday morning, bringing a 10 year deal to market in response to a reverse inquiry. It’s the second French financial to tap demand in the 10 year segment in recent weeks.
Bookrunner Royal Bank of Scotland priced the Sfr100m ($105.06m) 1.625% April 2023 paper at 50bp over mid-swaps, in line with guidance at the 50bp area. The deal was brought in response to a reverse enquiry, with extra demand found during bookbuilding.
The issuer has three bonds outstanding in Swiss
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