Roche on the up in Switzerland?

Roche, fresh from raising $32bn in Europe and the US, is continuing its grand tour of the capital markets and is in Switzerland today. It is issuing a three year international tranche at 140bp over mid-swaps and an eight year domestic at 220bp over. Bookrunners Credit Suisse and UBS have announced Sfr300m sizes for each, but market participants think the deal will exceed Sfr1bn by the end of the day. Read EuroWeek on Friday to see how it fares. Other deals this week include the Province of British Columbia’s return to the Swiss market after an absence of six and a half years as well as trades from EDF, Nestlé and the long awaited Generalitat de Valencia.