CAF leads the way in SFR, EIB struggles with basis swap
Corporación Andina de Fomento (CAF) sold its first Swiss franc deal of the year on Monday to investors increasingly keen on emerging market paper. The EIB also launched its first Swiss trade of the year on Thursday, running into a cooler reception as tight pricing — induced by an unfavourable basis swap — failed to endear the issuer to Swiss investors.
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