India banks return to Swiss franc market
Swiss franc investors are expanding their appetites again. Having already learned to love lower rated credits, they are now embracing issuers from growth markets. This week saw deals from state-owned banks in India and Russia, a development that bankers said was evidence of just how far Swiss franc demand had moved from when it was strictly focused on top rated big name borrowers.
"If you had suggested even five years ago that Indian banks would be able to tap Swiss francs, you would have been laughed out of the room," said one DCM banker.
Indian issuers are returning to the Swiss franc market after a 23 year absence. Last Friday Union Bank
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