Swiss smoke out Philip Morris

September 03, 2008 12:00 am

Philip Morris followed up its euro benchmark deal last week with a Swiss franc issue yesterday, pricing a Sfr500m ($449m) 2012 bond with a 4% coupon, with three more borrowers lining up in the currency today. In niche currencies, the World Bank tapped a 2010 rouble bond and Eurofima went to Australia on Tuesday in response to a reverse enquiry from a single investor.

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