PKO prints Swissie blowout, BNP goes long for self-led
PKO Bank Polski returned to the Swiss franc market with a bang this week, printing a Sfr400m ($411m) 2.536% three year loan participation note on Monday. The issuer benefited from a lack of Swiss franc supply in recent weeks.
"There has been Sfr7bn worth of negative net issuance in this years second quarter, and that has carried on into the summer," said Manuel Gadient, head of Swiss DCM and syndicate at UBS. "Investors are extremely cash rich right now."
Lead managers Credit Suisse and UBS kept books open
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