European SSA returns to Swiss market amid basis swap move

swissie_fotolia_230x150
By Silas Brown
26 Jul 2017

Nederlandse Waterschapsbank has become the first European SSA to print in the Swiss market since 2015, citing a favourable move in the euro/Swiss franc basis swap as a reason for the return.

Lead ZKB used NWB’s existing Swiss curve to find fair value. The new 0.625% August 2037 bond was priced at minus 12bp over mid-swaps on Tuesday, with a final size of Sfr110m ($114.7m).

“The spread [to swaps] is clearly tight but I assume investors had maturity and yield ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.