Scramble to the finish

Syngenta and FMO Nederlandse have been among borrowers printing new Swiss franc deals in what is close to the last week to issue with a 2008 value date. Syngenta followed GDF Suez’s issue on Friday as corporate borrowers continued to find demand despite the Swiss base rate cut last week, while FMO made its debut in the currency this morning. Pfandbriefzentrale der Schweizerischen Kantonalbanken rounded out the week so far with a three and seven year dual tranche deal priced tight to government bonds. Read EuroWeek on Friday to see how the market absorbs these deals and whether anyone else slips through 2008’s issuance window as it strains on its hinges, ready to slam shut for good.