ABB engineers landmark Sfr850m issue
Engineering giant ABB harnessed the Swiss franc market’s ravenous appetite for corporate debt with the year’s largest deal in the currency. The Sfr850m ($937m) two-trancher included the half-domestic borrower’s first deal in a decade, which bankers hailed as the pick of recent flows.
"This is definitely a candidate for deal of the year," said Andreas Tocchio, a syndicate manager at UBS. "I dont see any other issuer reaching this result in the next three months," added André Schmid, head of Swiss franc syndicate at Credit Suisse.
With swap rates volatile and execution
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