CRH jumbo cranks Swiss covered fiesta past Sfr2bn

The recent French issuer flood into the buoyant Swiss franc covered bond sector accelerated further this week as Caisse de Refinancement de l’Habitat launched the market’s biggest deal in over a year — a more than doubled Sfr625m two tranche issue. Together, Monday’s Sfr350m 10 year tranche and Sfr275m five year rank as Switzerland’s largest covered bond since Canadian Imperial Bank of Commerce’s Sfr675m trade in 2009.