Rhätische Bahn sells second ever Swiss franc deal

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By Frank Jackman
02 Jul 2020

Unrated Swiss private railway operator Rhätische Bahn, owner of the UNESCO World Heritage-listed Bernina railway, made its second stop in the Swiss franc bond market this week, four years after its debut deal.

The train operator raised Sfr100m ($105.7m) with a 0.05% August 2050 bond on Monday. The spread was fixed at 29.5bp over mid-swaps (equivalent to 31.2bp over Swiss government bonds). The bond was priced at par. Credit Suisseled the transaction, with Graubuendner Kantonalbank acting as co-manager.

“Although [Rhätische Bahn is] ...

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