Valiant plans Swiss structured covered bond

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Valiant plans Swiss structured covered bond

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A Swiss flag waves near the Jungfraujoch in the Bernese Alps in Switzerland, 05 August 2013. The station ehich is also called the Top of Europe is 3,454 meters above sea level and thus, the highest railway station in Europe. Photo: Soeren Stache | Soeren Stache/DPA/PA Images

Switzerland’s Valiant Bank is reportedly close to issuing its debut covered bond, with a Swiss franc-denominated issue expected first, possibly followed by a euro benchmark. But the restrictive Swiss covered bond law means the deal will be contractually structured.

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