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Geneva Sfr500m deal breaks convention with premium

Although foreign borrowers are shunning the Swiss franc market to an extent not seen since 2007, a domestic sub-sovereign managed to build a hefty — and faintly controversial — Sfr500m 10 year in just half an hour on Thursday. After launching at an initial Sfr200m, the Canton of Geneva rapidly reached its maximum size at 8bp over swaps.

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