Russian Railways toots horn for EM Swissies

By GlobalCapital
02 Oct 2019

Swiss investors’ thirst for yield was quenched in some style at the end of last week, when Russian Railways printed the largest Swiss franc transaction of the year from an emerging market borrower.

Bookrunners UBS and VTB Capital gave initial price thoughts on the dual tranche trade of mid-swaps plus 160bp-165bp for a six year tranche alongside an eight and a half year tranche at 170bp-180bp over.

Strong demand for a solid emerging market issuer offering a positive yield allowed RZD Capital ...

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