Pfandbriefzentrale chalks up a 2019 record

By GlobalCapital
21 Nov 2019

Pfandbriefzentrale issued its largest ever bond this week, a Sfr1.386bn ($1.398bn) triple-tranche deal that included a Sfr980m 12 year tranche that was itself the largest single issue in the Swiss franc bond market this year.

The Aaa rating combined with a 12bp spread to mid-swaps on the 2031 tranche (equating to a yield of 0.06%) had a magnetic effect for cash-rich institutions. “It showed that there are some accounts that still have plenty of money to put to work before year end which they ...

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