Intesa Sanpaolo Bank Ireland this week printed a bond with what leads said was the lowest ever yield in Swiss francs from an Italian issuer. Following successful outings earlier this year in euros and yen, Italy’s largest banking group by assets turned to Swiss francs on Tuesday with a Sfr225m ($227.3m) five year senior trade that was also the first from an Italian borrower in the currency this year and the largest since the financial crisis.
Intesa’s trade was the first from an Italian bank since Mediobanca’s Sfr150m three year in March 2018. The ISP Group itself had not issued in Swiss francs since a trade from its investment banking subsidiary, Banca IMI, in 2013. Intesa Sanpaolo was last in the market in any
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