CRH ends Swiss franc covered silence
Caisse de Refinancement de L’Habitat has sold the first Swiss franc covered bond in almost six months. A good reputation among Swiss investors and upcoming redemptions helped CRH to price the deal through its Swiss franc curve.
Sole lead UBS priced the Sfr200m ($216.57m) 1.375% March 2023 paper at 25bp over mid-swaps on Tuesday, in line with guidance at the 25bp area. It was soft sounded on Tuesday morning at mid-20s of basis points over mid-swaps.
International issuers have avoided Swiss franc deals recently because of
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