Bharat brings Indian flavour back to Swissies
Indian state-owned oil company Bharat Petroleum sold its debut Swiss franc on Tuesday morning, the first deal in the currency from the country since 2012. Brazilian financial Banco Safra could follow with a Swiss deal of its own in the near future.
BNP Paribas, Deutsche Bank, Royal Bank of Scotland and UBS priced the Sfr175m ($197.1m) 3% December 2019 bonds at 235bp over mid-swaps, tight of guidance of 240bp area.
The deal was capped at Sfr175m by the issuer and order books were just oversubscribed, according to a syndicate banker involved
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