Lugano clinches tight pricing as Swiss settle for Christmas

SwissMountain_fotolia_230x150
By Silas Brown
30 Nov 2017

Lugano nipped into the Swiss franc bond market on Tuesday, with its first issuance since Moody’s gave the city its first official credit rating. Lugano will likely be one of the last borrowers to raise Swiss francs this year, as the market enters its quietest month.

Leads Credit Suisse and Raifeissen Schweiz priced the 0.25% December 2027 notes at mid-swaps minus 1bp, to yield 0.23%, which was tighter than Lugano's outstanding Swiss curve.

Asset managers, insurance companies and pension funds bought the bonds.

Moody's assigned the city an Aa3 rating in July and awarded the ...

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.