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Corp Bonds

Roche ‘deal of the year’ dazzles Swiss market

A jumbo Sfr1.5bn triple trancher from domestic pharmaceutical giant Roche dominated the Swiss franc bond market this week, attracting Sfr2.5bn of orders from across the currency’s investor base and drawing immediate accolades. "This is the deal of the week and the deal of the year. It’s a trade everyone was involved in," said a banker away from the offering.

  • 24 Feb 2012

"Investors would have bought this at almost any price," added a Zurich banker.

Besides its undisputed name recognition, a range of maturities to access different areas of demand and ratings of A1 (Moody’s) and AA- (Fitch), Roche offered significant rarity value. The company last tapped its domestic market back ...

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1 JPMorgan 19,942.91 89 7.66%
2 Citi 17,479.08 67 6.71%
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4 Goldman Sachs 14,481.25 57 5.56%
5 Bank of America Merrill Lynch 14,360.57 65 5.51%

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Rank Lead Manager Amount $m No of issues Share %
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  • 24 Feb 2015
1 SG Corporate & Investment Banking 6,138.80 15 0.00%
2 Barclays 4,880.16 12 0.00%
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4 HSBC 4,402.92 15 0.00%
5 Deutsche Bank 3,182.86 8 0.00%

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Rank Lead Manager Amount €m No of issues Share %
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1 Credit Suisse 2,541.85 14 6.00%
2 Deutsche Bank 1,980.97 14 4.68%
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4 Morgan Stanley 1,608.82 12 3.80%
5 Barclays 1,467.38 8 3.46%

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Rank Lead Manager Amount $m No of issues Share %
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  • 24 Feb 2015
1 JPMorgan 4,558.94 29 9.65%
2 Deutsche Bank 4,285.41 25 9.07%
3 Citi 4,160.43 28 8.81%
4 Barclays 3,837.98 19 8.13%
5 Morgan Stanley 3,821.40 23 8.09%

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Rank Lead Manager Amount $m No of issues Share %
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1 SG Corporate & Investment Banking 6,254.74 14 11.74%
2 Barclays 5,022.71 12 9.43%
3 BNP Paribas 3,762.80 16 7.07%
4 HSBC 3,074.32 11 5.77%
5 Citi 2,664.42 8 5.00%