Swiss franc covered bond market wakes up

Compagnie de Financement Foncier printed a Sfr350m four year deal on Tuesday, the second publicly sold covered bond in the Swiss market this year. Corporates too are in action with E.On coming today with a two year at plus 90bp and the book is said to have exceeded Sfr300m already. This afternoon, Kommuninvest is pricing two year paper at 15bp over swaps, following five other issuers this week. Read EuroWeek on Friday to find out if anyone else comes along to take advantage of the franc to euro pick up.