Geneva scores big with triple trancher
The Canton of Geneva took its 2020 funding up to almost Sfr1.2bn ($1.2bn) this week with a triple tranche deal — the most it has funded in a single year since 2013, according to Dealogic. Elsewhere, an attractive basis for dollar funders led a pair of rare issuers to return to the market.
In 2013, Geneva raised Sfr1.6bn of debt, according to Dealogic. In 2019, it sold Sfr1bn across five deals.
“This is the canton's third outing in the public market this year,” said a banker on the deal. “It’s been hitting the market in style and grabbing great sizes.”Prior ...