Rare bank capital in Swiss francs
Rabobank issued the first tier one capital bond in the Swiss market for over a year, and only the third one ever. It sold Sfr550m with a 6.875% coupon — more expensive than initial guidance of 7%, and much more expensive than its dollar perpetual, which came with an 11% coupon, but which has since tightened. Read EuroWeek on Friday to see how leads Credit Suisse, Sarasin and UBS found a price and investors, and whether it’s a one off.
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