Swissies pick up as investors return to market
Having dropped off in early March, Swiss franc issuance has bounced back in the last fortnight, buoyed by returning investors flocking to low investment-grade rated borrowers, like triple-B rated cement manufacturer LafargeHolcim, and piling into a record-breaking foreign covered bond.
“Investors have cash to put to work,” said one Switzerland-based banker. “We’re seeing groups of investors come back to Swiss francs, particularly retail investors who were burnt with the fall in equities and are now more willing to take a more proactive approach in the fixed income markets.”...
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