UniCredit’s 10 year shows the resilience of Swissies
UniCredit breezed back into the Swiss franc market this week after a four year absence, pricing a deal that shone a light on the sector’s ability to host transactions that would be unthinkable elsewhere. The Italian bank priced a 10 year senior unsecured bond in what was a litmus test for the risk appetite of Swiss buyers, writes Stefania Palma.
It was a test easily passed, however, as the trade kick-started another blistering week for the Swiss franc market. Italys Enel followed UniCredit into the sector with a chunky Sfr350m ($377.1m) six year deal (see page 21).
Lithuania flew the EM flag, meanwhile, with a strongly anticipated Swiss
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