Cembra Money Bank covers all the bases

Swiss franc fotolia 230x150
By GlobalCapital
11 Jul 2019

Having successfully accessed the equity, convertible and AT1 market last week to finance its acquisition of Cashgate, Zurich-based Cembra Money Bank made it a full house on Monday when it added a senior unsecured trade to its summer funding spree.

Cembra took full advantage of a quiet market to price both tranches of the senior unsecured offering below the initially indicated range. The Sfr250m ($252.6m) 3.75 year tranche was priced with a coupon of 0% and at mid-swaps plus 74.4bp, from a range of mid-swaps plus 74.9bp-79.9bp. The ...

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